Massachusetts Democratic Sen.-elect Elizabeth Warren is vowing to help tackle the nation's looming deficit by pushing for what she calls a "balanced approach" of spending cuts and higher taxes on the wealthy.

Warren, who defeated incumbent Republican Sen. Scott Brown in Tuesday's election, said agricultural subsidies are among the cuts she'd support.

Warren also said that as the nation winds down the wars in Iraq and Afghanistan it should use some of the money it's been spending on those conflicts to bring down the $16 trillion debt.

The first woman elected to a seat in the U.S. Senate from Massachusetts said her top priority remains helping strengthen and rebuild the nation's middle class.

Warren also sounded a conciliatory note, saying that Brown was "exactly right" when he said bipartisanship is important.