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White House budget chief says Obama to halve US deficit: CNN

Jack Lew confirmed that the president's fiscal 2012 budget to be released on Monday would reduce the deficit by $1.1 trillion over 10 years.

Updated : Feb 13, 2011, 09:40 PM IST

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President Barack Obama is sticking to his plan to cut the US budget deficit in half by the end of his first term in office, White House budget chief Jack Lew told CNN on Sunday.

Lew confirmed that the president's fiscal 2012 budget to be released on Monday would reduce the deficit by $1.1 trillion over 10 years.

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