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President Barack Obama outlines his fiscal policy during an address at George Washington University in Washington, Wednesday, April 13, 2011. (AP Photo/Pablo Martinez Monsivais)

WASHINGTON (AP) — Forcefully rejecting Republican budget-cutting plans, President Barack Obama on Wednesday proposed lowering the nation’s future deficits by $4 trillion over a dozen years and vowed he would not allow benefit cuts for the poor and the elderly to pay for tax breaks for the rich.

“That’s not right and it’s not going to happen as long as I’m president,” Obama declared.

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