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Carney said Obama’s budget shrinks the annual deficit “to a very manageable level” and follows a balanced approach that bipartisan budget groups have all used, with a mix of revenue and spending cuts. He said the president’s approach largely follows the Simpson-Bowles fiscal commission, which Obama never fully embraced.
Senior administration officials, meanwhile, insisted that a Republican push to undo the sequester on defense spending wasn’t going anywhere, and they are already looking ahead to the lame-duck session after the elections for a climactic battle over spending and taxes.