President Obama Going To Get Serious Tackling Deficit

President Obama said today that he needs to get more stringent on cutting the federal deficit, and called the economy an "untenable fiscal situation". The federal deficit stood at $1.47 trillion as of September 30, 2010. "I realize that we are facing an untenable fiscal situation," Obama told a meeting of his economic recovery advisory board. "What I won't do is cut back on investments like education."