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Concord Coalition Supports President Obama's Deficit Reduction Goal But Warns That Much More Needs to Be Done
February 26, 2009The Concord Coalition said today that President Obama's pledge to cut the deficit in half by 2013 is a positive and achievable goal but warned that it would still leave the nation on an unsustainable fiscal path. Concord praised the administration for improving transparency in the budget by using realistic policy projections and specifying several offsets for new initiatives. It warned, however, that spending cuts and tax increases used to fund new initiatives would no longer be available to close the existing long-term budget gap. Full release.