Related News
Obama urges Congress to balance spending cuts, tax reform
Source: Xinhua |
February 10, 2013, Sunday
|
Online Edition
Online Edition
US President Barack Obama pressed Congress yesterday to find a balanced mix of spending cuts and tax reform, as they negotiated ways to cut deficit.
In a weekly radio and Internet address, Obama said a balanced, comprehensive way referred to making sensible changes to entitlement programs and reforming tax code.
If U.S. lawmakers fail to hash out a budget deal by March 1, a series of automatic cuts to investment and defense spending will take effect. It would be a huge blow to the US economy as a whole. Economists estimated it may translate into a 0.6 percentage point drag on US economic growth, widely expected at around 2 percent this year.
Obama said he acknowledged the budget process took time and suggested Congressmen moving forward with a short-term deal as they had done at the beginning of this year until they can find a longer-term solution.
In a weekly radio and Internet address, Obama said a balanced, comprehensive way referred to making sensible changes to entitlement programs and reforming tax code.
If U.S. lawmakers fail to hash out a budget deal by March 1, a series of automatic cuts to investment and defense spending will take effect. It would be a huge blow to the US economy as a whole. Economists estimated it may translate into a 0.6 percentage point drag on US economic growth, widely expected at around 2 percent this year.
Obama said he acknowledged the budget process took time and suggested Congressmen moving forward with a short-term deal as they had done at the beginning of this year until they can find a longer-term solution.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
