Obama Launching Pitch on Deficit Cuts, '12 Campaign

President Barack Obama will focus on two kinds of finances this week. The United States' and his own.

Obama will take Air Force One to the West Coast this week in a trip combining talks on reducing the deficit at a pair of town hall gatherings and at a pair of fundraisers for his 2012 Presidential re-election campaign, the White House said.

His main policy focus at three town hall events this week in Northern Virginia (Tuesday), Palo Alto, California (Wednesday) and Reno, Nevada (Thursday) will be on discussing his plan to reduce the nation's deficits first outlined last week.

Meanwhile he'll attend fundraisers for the Democratic National Committee in San Francisco on Wednesday, and Los Angeles on Thursday.

On Monday, he has scheduled interviews with local media outlets about the deficit from Denver, Raleigh, Dallas, and Indianapolis

Obama made his first 2012 campaign speeches at fundraisers in Chicago last week, the home of his campaign headquarters.

On the issue of deficits, both Obama and Republicans have proposed reducing the size of future deficits, but neither foresees the size of the U.S. debt declining in the next 10 years.

In their proposed budgets for 2012, Republicans and Democrats see the debt held by the public growing to $16 trillion and $19 trillion respectively by 2021. Republicans and Obama have proposed $4.4 trillion, and $4 trillion deficit cuts in 10 years and 12 years respectively.

Obama is urging for a combination of tax increases for the more affluent and smaller spending cuts than Republicans, who want more drastic cuts.