Obama defends U.S. deficit plan, sees common ground

President Barack Obama drew a sharp line on Tuesday between Republican and Democratic plans to cut the U.S. deficit, but said a deal could be reached despite big ideological differences between the two parties. Reuters reports. Democrats and Republicans agree that $4 trillion needs to be slashed over roughly a decade, Obama told a town hall-style event in Virginia. But they disagree on what to cut to get there.