Barack Obama is planning to reduce the government budget deficit by half by 2013

23:02:09

U.S. President Barack Obama plans to raise taxes on the wealthy, but also cut spending on the war in Iraq, thus reducing the budget deficit to $ 533 billion (approx. ProFinance.ru: from the current $ 1.3 trillion) by the end of his first term in office. According to the presidential administration, this issue will be addressed at today's summit on fiscal policy in the White House, as well as in the treatment of Mr. Obama to Congress on Tuesday. "We can not achieve sustained growth, not taking control of the budget deficit," - said in his weekly radio and Internet address, U.S. President. - "The new budget includes a reasonable taxation, calculation of honesty and detail will reveal my strategy for investing in what we really need, and cuts in spending on, without which we can do."

Source: Forexpf.Ru - Stock Market and Forex