After announcing a $447 billion jobs plan just over a week ago that he says would help the nation’s ailing economy, President Obama today offered up his plan for how to pay for it.

On Monday morning, Obama called for new taxes on the wealthy and the elimination of some existing tax loopholes and deductions

Watch video of the president’s speech below.

What was your reaction to President Obama’s speech and the deficit reduction proposals in it? Tell us in the comments whether you think his ideas will help rein in government spending, or use #Obamadeficit to chime in on Twitter. We’ll share the responses below.

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