WASHINGTON - U.S. President Barack Obama has vowed to cut the country's budget deficit in half by the end of his first term.
Obama laid out the guiding principle of his budget policy at a White House conference today.
He said he believes the time has come for "a frank conversation" about the problem and said the deficit, projected to total $1.3 trillion this year, must be brought under control.
Obama declared the country "cannot and will not sustain deficits like this without end."
