michael kors black Friday In the Sunday night preview, Administration officials cast Obama's plan as a total of $4.4 trillion in net deficit reduction including cuts that were made in discretionary spending as part of the August deal and prospective savings on interest costs. (While Republicans are sure to dismiss Obama's counting of war savings, they have done the same thing in their deficit plans.) Moreover, an Administration official noted, the $4.4 trillion is net of the cost of Obama a package of payroll tax cuts, infrastructure spending, and unemployment insurance designed to attack the nation's stubbornly high 9.1% unemployment rate. Obama has proposed paying for that too with tax hikes Republicans have rejected, including a limit on mortgage, charitable and other deductions for the well off; elimination of the "carried interest" tax break enjoyed by the managers of hedge funds and other partnerships; and the repeal of var