WASHINGTON (AP) — President Barack Obama, risking liberal anger and Republican scorn, is turning his attention to the nation's crushing debt with an anti-deficit framework that tackles politically sensitive health care programs while also increasing taxes.

The president on Wednesday plans to deliver a speech outlining his approach to reducing the deficit by lowering spending in Medicare and Medicaid, raising taxes on the wealthy and cutting defense costs. Obama's address will draw contrasts with a Republican plan that cuts $5 trillion in spending over the next decade and which the White House says unfairly singles out middle-class taxpayers, older adults and the poor.

This new clash, just a week after the president announced he would seek re-election, ensures that the nation's fiscal health will be at the center of the 2012 presidential campaign. For the past two months, Obama has been arguing to protect his core spending priorities, including education and innovation. His turn to deficit reduction reflects the pressures he faces in a divided Congress and with a public increasingly anxious about the nation's debt, now exceeding $14 trillion.