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******CORRECTIONAn item on the City & State front Thursday incorrectly reported the circumstances in which a reader's question for presidential candidate Barack Obama was asked. The question was submitted to Obama's campaign staff, and aides provided his answer.******(Staff writer Rob Christensen posed these questions from News & Observer readers to Obama on Wednesday in Fayetteville.)"My personal belief is that our soaring budget deficit, if not controlled, could become a threat to our security and to the way of life of my children and grandchildren. Do you think the current federal budget deficit is too high? If so, what are your plans to reduce it?"- Larry W. Tombaugh, 69, retired dean of the College of Natural Resources at N.C. State University, Cary, unaffiliatedSEN. BARACK OBAMA: Yes. I believe that the starting point for a competitive economy with a vibrant and growing private sector is sound fiscal policy. As president, I will return the federal government to a pay-as-you-go system so that new spending or tax cuts are paid for by spending cuts or new revenue elsewhere to address the short- and long-run deficits facing the country. We should cut pork barrel spending projects, go after international tax-haven and tax-shelter abuse, and end wasteful federal spending to help reform the federal budget.
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