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Obama launches attack on US deficit

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Obama launches attack on US deficit


Halving the US deficit by 2013. That is the aim set out in the president’s new budget plan as Republicans prepare for an all-out fight in Congress.

Through a series of spending cuts and tax increases Barack Obama and his Democrats want to shave off $1.1 trillion dollars over the next ten years.

While he said annual domestic spending will be frozen, critics complained he had been vague on how to cover major outlays such as the Medicare programme.

“While it’s absolutely essential to live within our means, while we are absolutely committed to working with Democrats and Republicans to find further savings and to look at the whole range of budget issues, we can’t sacrifice our future in the process,” said President Barack Obama.

Obama used a visit to a Baltimore school to present the budget using the venue to stress investment in areas such as education and broadband internet would continue.

But the Republicans who have already unveiled much tougher proposals to reign in the rising US debt, plan to resist and say this tax-and-spend president has not gone far enough.

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