Text of Obama's State of the Union address Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 6:33 pm, Tuesday, February 12, 2013 Over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion - mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of Americans. In 2011, Congress passed a law saying that if both parties couldn't agree on a plan to reach our deficit goal, ... Read More