The President pledges to rein the deficit, citing three specific steps to this end. He praises the Senate for restoring the pay-as-you-go law, discusses his proposal for a freeze in discretionary spending, and calls for a bipartisan Fiscal Commission to hammer out further concrete deficit reduction proposals.
None of these measures will take place right away. They are set up for next year and with the economic news looking better all the time it makes sense to start thinking about reducing the deficit. I am sure, if something happens between now and then, it will change.
That's one HUGE difference between this president and the former occupant.. Once that log made a decision he stuck with it.. no matter how disastrous it was. However Pres. Obama has already shown he will change his mind and the direction he is taking if he feels it was a bad decision.