Barack Obama actually said...

I pledged to cut the deficit in half by the end of my first term.

America is emerging from the worst recession in generations.

I'm convinced that if we outbuild and outinnovate and outeducate as well as outhustle the rest of the world, the jobs and industries of our ...

Republicans are saying the cuts don't go nearly far enough, while liberals are calling it a callous assault on the poor.