The White House says implementing the plan would put the United States in a position by 2017 where government spending does not add to the national debt, currently more than $14 trillion, with debt beginning to fall as a share of GDP.

Treasury Secretary Timothy Geithner said, "Why $4 trillion? That is what you need to bring the deficits down to a level that that we can sustain over time."

Under the previous deficit compromise, which Republicans linked to the national debt ceiling, the joint congressional committee must find $1.5 trillion in additional savings by November. Failure to do so would lead to automatic cuts.

The House of Representatives speaker, Republican John Boehner, accused Obama of "pitting one group of Americans against another." He said it is evident that "barriers" remain between himself and the president over tax increases and entitlement programs.

With polls showing most Americans favor more sacrifice from the wealthy, Obama wants to increase public pressure on Republicans, as the congressional committee works on its decisions, and reduce criticism from within his Democratic base.

The White House believes that by finally "drawing the line" on the need for tax increases on the wealthy, a president with low approval numbers on his handling of the economy will be able to draw an even clearer contrast with Republican positions as the 2012 election draws near.

Saying the changes he is proposing are neither easy nor politically convenient, Obama said it's the responsibility of leaders in Washington to "put country before party" in a debate he says is as much about fairness as it is about facing up to a legacy of debt that threatens the economy.