Obama: Tax Hikes on the Table

On Sunday, White House senior advisor David Plouffe announced on NBC's Meet The Press that President Obama will deliver a major budget address this week detailing a more aggressive path for deficit reduction. The president's 2012 budget has reportedly already laid out plans to reduce the country's deficit by 10 trillion dollars over the next ten years. Plouffe suggested Obama will address reforming Medicare and Medicaid for greater savings, but will not support tax proposals put forth by Rep. Paul Ryan, chairman of the House Budget Committee. Plouffe declared that the president will follow through with his campaign pledge to raise taxes on the wealthy, but not on America's middle class or senior citizens.