From President Obama today (emphasis is mine):

Essentially tossing aside the budget he submitted just two months ago, Mr. Obama called for much deeper defense and domestic spending cuts and said while he will not trim benefit payment from Social Security, Medicare or Medicaid, more money can be squeezed out of the latter two programs in other ways.

The president also called for undoing the Bush tax cuts for upper-income taxpayers, and for canceling other tax cuts many of them receive such as the mortgage interest deduction — which he called “spending reductions in the tax code.”

Please.