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President Barack Obama speaks at the Congressional Hispanic Caucus Institute’s 34th Annual Awards Gala at the Washington Convention Center, Wednesday, Sept. 14, 2011 in Washington. (AP Photo/Charles Dharapak)

WASHINGTON (AP) — President Barack Obama is backing away from some deficit reduction proposals he considered during failed summer negotiations with House Speaker John Boehner even as he prepares to unveil a broad plan to tackle the nation’s debt with a blend of tax revenue and lower spending on health care programs.

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