President Obama laid out his plans for America's Fiscal Policy during a speech Wednesday at George Washington University.

The goal: $4 Trillion dollars in deficit reductions over 12 years.

Listen HERE to some highlights of Pres Obama's remarks:

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Meanwhile, Republicans are criticizing the President's plans.  Some commenting even before the President spoke.

FOX News Radio's Hank Weinbloom reports from Washington DC:

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Senator Orrin Hatch (R-UT) had this to say about the President's plan:

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Rep. Paul Ryan (R-WI) expressed his disappointment:

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Here are excerpts from House Speaker John Boehner's paper statement reacting to the President's Fiscal Policy remarks:

 "Unsustainable debt and deficits threaten the prosperity of our children and the health and retirement security of our seniors. Republicans, led by Chairman Ryan, have set the bar with a jobs budget that puts us on a path to paying down the debt and preserves Medicare and Medicaid for the future. This afternoon, I didn't hear a plan to match it from the President." ...

"To reduce the economic uncertainty hanging over American job creators we must demonstrate that we're willing to take action. And any plan that starts with job-destroying tax hikes is a non-starter. We need to grow our economy - not our Government - by creating a better environment for private sector job growth. That's why Republicans are fighting for meaningful spending cuts and fighting against any tax increases on American small businesses."

Tune into your local FOX News Radio affiliate for more on this developing story.