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ALuckyDuck
Guest
President Barack Obama said Tuesday Washington must urgently confront unpleasant truths about deficits, while the Federal Reserve chairman said failure to mop up red-ink spending would "ultimately do great damage" to the country. Obama refused to rule out measures that would fight "exploding deficits." This signaled that politically toxic tax increases were options that could be under consideration by members of a panel he tasked with reducing federal deficits that threaten to erode Americans' standard of living.