He's making a political move. He wants to own the budget reduction debate.By Jeanne Sahadi, senior writerApril 13, 2011: 2:10 PM ET
NEW YORK (CNNMoney) -- It was more than the naysayers were expecting, but less than what many deficit hawks had hoped.
President Obama on Wednesday articulated his most ambitious plan yet for reining in the nation's debt. He laid down a series of spending and deficit targets for lawmakers to adhere to in the coming decades -- and summoned congressional leaders to take part in a budget summit in early May.