(RALEIGH) -- President Barack Obama will put forth a plan on Wednesday to reduce the federal deficit.  North Carolina congressman David Price said he hopes to hear the President say that the goal should be to recover from mistakes of the recent past.

"Our fiscal situation eroded the last 10 years. We had $2 trillion worth of tax cuts not paid for by the Bush Administration.  We had a prescription drug plan not paid for.  We had two wars off budget not paid for, so when this recession hit we were in a hole fiscally," said Price.

In the meantime, the U.S. House is debating a budget deal that would keep the government running through the end of the fiscal year in September.  The proposal would then move to the U.S. Senate.