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Obama to take long-term deficit curbing action

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Obama to take long-term deficit curbing action


Create jobs and cut spending – Barack Obama’s main budget objectives.

The US President has outlined an ambitious plan to tackle the country’s record deficit and double-digit unemployment.

In a televised statement from the White House he said the measures will aid those who need help the most and still protect the country’s fragile economy.

“We have to do what families across America are doing: Save where we can so that we can afford what we need,” Obama said.

“The budget includes new tax cuts for people who invest in small businesses, tax credits for small businesses that hire new workers, investments that will create jobs repairing roads and bridges, and tax breaks for retrofitting homes to save energy.”

“I’ve proposed a freeze in government spending for three years. This won’t apply to the benefits folks get through Social Security, Medicaid, or Medicare. And it won’t apply to our national security,” he added.

But before Americans see these benefits, Obama has to convince Congress – a process that usually lasts most of the year.

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