|Published:||Apr 13, 2011 11:17 AM EDT|
|Updated:||Apr 13, 2011 8:18 AM EDT|
President Obama will lay out his new plan for reducing the federal deficit today.
In a speech this afternoon, he's expected to call for changes to medicare and medicaid and tax increases for the wealthy.
The president will give congressional leaders a preview of the speech at a White House meeting this morning.
It's a turnaround for the President, who ignored the deficit cutting advice of his own panel with his latest budget and ran up about $4 trillion in deficits since taking office.