Of those, £81bn are spending cuts and £29bn are tax rises.

Obama used the term "balanced approach," by which he meant not having only spending cuts or tax increases.

Additionally, every aspect of the Act is accounted for by spending cuts, rather than tax increases.

The plan relies heavily on using reserve funds, rather than spending cuts.

Too often, elected officials talk about spending cuts but shy away from doing the real work.

Which way would the new leader take them on spending cuts, welfare, constitutional and political reform?

Over five years, the deficit reduction would come almost equally from spending cuts and tax increases.

Should there be spending cuts and tax increases to reduce the Federal deficit?

Every American is affected by spending cuts - from education, infrastructure and scientific research to other vital government programs.

Agencies were being asked to cut spending an average of 13 percent, in addition to severe cuts adopted within the last few months.