The document outlines the President's plan to reduce the deficit by more than $4 trillion total through 2023. It details that over $2.5 trillion in deficit reduction has already been signed into law. This includes $1.4 trillion in spending cuts and more than $600 billion in new tax revenue from the wealthy. The President has also offered Speaker Boehner an additional $1.5 trillion in deficit reduction, including $930 billion in spending cuts to defense, health care, and entitlement programs, as well as $580 billion from limiting tax deductions for the wealthy.