President Obama, who is proposing his third annual budget on Monday, will say that it can reduce projected deficits by $1.1 trillion over the next decade, enough to stabilize the nation's fiscal health and buy time to address its longer-term problems, according to a senior administration official.
Two-thirds of the reductions that Mr. Obama will claim are from cuts in spending, including in many domestic programs that he supports. Among the reductions for just the next fiscal year, 2012, which starts Oct. 1, are more than $1 billion from airport grants