News: Nation Obama: US can reduce deficit by closing tax loopholes, making 'smart' reductions in spending February 3, 2013 | Modified: February 3, 2013 at 6:00 pm Leave a comment WASHINGTON (AP) — Obama: US can reduce deficit by closing tax loopholes, making 'smart' reductions in spending. Sign Up for the Daily E-dition newsletter! Please enter your email address below to begin receiving the Daily E-dition newsletter. You must enter a valid email address in the field above! Thank you for signing up for the Daily E-dition newsletter! You should receive your first newsletter very soon. We're sorry, there was an error processing your newsletter signup. Please click here to visit our Newsletter Signup Center to register for this newsletter.