President Obama has offered a plan with 4 trillion dollars in debt reduction over a decade, with two and a half dollars of spending reductions for every one dollar of revenue increases, and tight controls on future spending. It's the kind of balanced approach proposed by the bipartisan Simpson-Bowles commission.

Summary

This quote highlights President Obama's proposed plan for debt reduction. His plan involves reducing 4 trillion dollars of debt over ten years through a combination of spending reductions and revenue increases. The ratio of spending reductions to revenue increases is suggested to be two and a half dollars to one dollar. Additionally, the plan emphasizes the implementation of tight controls on future spending. It is described as a balanced approach, similar to the recommendations put forth by the bipartisan Simpson-Bowles commission.

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