Of the four priorities outlined last month by President Obama, reducing the deficit and health care reform are now seen by voters as the most important. The latest Rasmussen Reports national telephone survey found that 32% of voters believe cutting the deficit in half is most important while 29% say health care is the priority.

Investors see deficit reduction as the most important goal while non-investors say health care reform is more important.

However, most voters (54%) say the deficit reduction goal is the least likely to be achieved. Health care reform (24%) and development of new energy sources (23%) are seen as most likely to be achieved.

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Immediately after the president's nationally televised speech to Congress laying out his priorities, 42% named deficit reduction as the top priority while 24% said health care. This suggests the president has made some progress winning voters to his view on the urgency of health care reform.

The gains have come primarily from within Obama’s own party. Forty-two percent (42%) of Democrats now consider health care reform the top priority, up from 32% a month ago. Among Republicans, 18% now see health reform that way, up from 15%. As for those not affiliated with either major party, 22% now consider health care reform the most important. That’s down a point from last month.

For Democrats, deficit reduction is a distant second as the top priority at 25%.

For Republicans and unaffiliated voters, health care reform is third on the list. Deficit reduction is the top priority for these voters and development of new energy sources is slightly ahead of health care reform (see crosstabs).

Overall, 18% name the president’s energy goals as their top priority while 12% see his education goals as most important.Earlier surveys have found that Americans overwhelmingly believe finding new sources of energy is more important than energy conservation.

Forty percent (40%) of voters now say cutting government spending is more important than balancing the budget or cutting taxes. Thirty-five percent (35%) say balancing the budget is most important while 18% put tax cuts first.

For Democrats, balancing the budget is the most important of those objectives. Fifty-one percent (51%) hold that view.

For Republicans and unaffiliated voters, cutting federal spending is the highest priority, a view shared by 50% of Republicans and 45% of unaffiliated voters. Just 20% of Republicans and 29% of unaffiliateds see balancing the budget as most important.

Data released earlier today showed that three-out-of-four voters are concerned that the President’s budget will lead to too much government spending. Overall, the public is evenly divided on whether to support or oppose the budget.

The president continues to earn solid job approval ratings, but his ratings are down from earlier in the year.

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See survey questions and toplines. Crosstabs are available to Premium Members only.