As the March 1 deadline draws closer for automatic austerity measures to be imposed on the US government, President Barack Obama has urged Congress to pass a smaller package of reforms.
Democrats say his plan will avoid a new fiscal cliff and prevent the American economy from returning to recession.
But Republicans have quickly rebuffed his proposals, saying further spending cuts, rather than tax increases were needed.
Obama says the uncertainty over a budget deal threatened to stunt economic growth further.
“Our economy right now is headed in the right direction. And it will stay that way, as long as there aren’t any more self-inflicted wounds coming out of Washington.
So let’s keep on chipping away at this problem together, as Democrats and Republicans, to give our workers and our businesses the support that they need to thrive in the weeks and months ahead.”
American politicians delayed across-the-board cuts for a few months at the start of the year, allowing more time for negotiations.
While both sides agree that America’s vast budget deficit needs to be trimmed, they still can’t agree on how.
Copyright © 2014 euronewsMore about:
- 1US says ISIL makes $1 million-a-day selling oil – even to enemies
- 2Israel: Hamas praises Jerusalem attack which killed baby girl
- 3Doctor in New York tests positive for Ebola infection
- 4Video footage of Canadian parliament gunman shows final movements
- 5Ukraine PM warns Russia may try to disrupt election
- 1Israel: Hamas praises Jerusalem attack which killed baby girl
- 2Ottawa fatal shooting: Police admit they were ‘caught by surprise’
- 3Revealed: Europe’s capital cities where it’s hardest to be a foreigner
- 4Police search for possible suspects following attack on Canada’s parliament
- 5Intruder sparks lockdown at the White House
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Now is ‘right time’ for Catalonia independence vote, says Mas | euronews, world news
- 3Vatican rocked by another paedophilia scandal | euronews, world news
- 4Two container ships collide on Egypt’s Suez Canal | euronews, no comment
- 5British Muslims’ message to ISIL: Not in my name! | euronews, world news
- 6Revealed: Europe’s capital cities where it’s hardest to be a foreigner | euronews, world news
- 7Sweden becomes first European nation to recognise Palestine | euronews, world news
- 8How nasheeds became the soundtrack of jihad | euronews, world news
- 9International tv news | euronews: European and International tv news bulletin
- 10European Union News | euronews: latest breaking news and headlines about European Union
- 11Iceland volcano ‘pollutes Paris’ | euronews, world news
- 12Ebola: Six new suspected cases in Spain | euronews, world news
- 13Emma Watson threatened with naked photos leak after UN equality speech | euronews, world news
- 14Learning through “serious games” | euronews, learning world
- 15All you need to know about the Ebola virus | euronews, world news
- 16US delivers technical aid to Ukraine but warns over security | euronews, world news
- 17euronews apps : iPhone, iPad, Android, Windows Phone 8, Windows 8, Nokia S40, Nokia Asha, Smart TV and Google Glass
- 18Global warming to ‘cause 250,000 extra deaths a year’ | euronews, world news
- 19Mike Tyson: ‘You learn humbleness when you get older in life’ | euronews, the global conversation
- 20International news | euronews, latest international news
Wires > News
- 13:13 CET Uruguay’s left in battle to retain presidency, and marijuana law
- 13:07 CET Algeria’s Bouteflika consolidates curbs on state intelligence…
- 12:59 CET Botswana votes in poll set to test ruling party dynasty
- 12:43 CET Tunisian forces kill six after standoff with militants outside…
- 12:42 CET Japan could deploy minesweepers off South Korea in war with North…
- 12:40 CET Russia still has troops in Ukraine, NATO says
- 12:04 CET Exclusive – Chad says Nigeria deal with Boko Haram to free girls…
- 11:39 CET Merkel, Putin express hope for gas talks success on October 29 -…