Obama outlines $3 trillion debt plan; GOP slams tax component

http://www.cnn.com/2011/09/19/politics/obama-debt/index.html

 

President Barack Obama released his long-awaited debt reduction plan Monday, outlining a roughly $3 trillion savings blueprint that was immediately criticized by top congressional and other Republicans.

The president's plan includes $1.5 trillion in new revenue generated largely by higher taxes on the wealthiest Americans, a proposal strongly opposed by GOP leaders who insist that any tax increase will undermine an already shaky economy.