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Obama seeks closed loopholes, 'smart' reductions

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WASHINGTON (AP) — President Barack Obama says the U.S can reduce its budget deficit by closing tax loopholes and making "smart" reductions in spending. Obama says closing tax loopholes should enable the U.S. to "continue to fund things that can help us grow" without raising tax rates again. In an interview on CBS a few hours before the Super Bowl, the president said he wants the tax system to...

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