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Obama Agrees on Further Budget Cuts

Service : Economy
TEHRAN, March 5 (ICANA) – US President Barack Obama has decided to make further budget cuts as long as Congress compromises on a budget deal that would end the threat of a government shutdown.
Saturday, March 05, 2011 11:14:37 PM
Obama Agrees on Further Budget Cuts

“The US can't do business two weeks at a time. It's not responsible, and it threatens the progress our economy has been making,” Wall Street Journal quoted Obama in his weekly radio and Internet address on Saturday.

Meanwhile, the 50-billion-dollar cut offered by the White House and Democrats falls short of the 62-billion-dollar one suggested by the Republicans.

The US government is currently running under a temporarily budget law which expires on March 18. This would give more time to Congressional representatives to find common ground on funding the government through 2011 fiscal year.

This is while Obama has insisted to leave areas like education, innovation and infrastructure off the spending cut plan.

The contours of the budget bill have emerged at a time when rattled nerves in the state of Wisconsin are still jittery over the controversial plans pushed by Wisconsin Republican governor Scott Walker to curb the power of public sector unions.

Results of a New York Times/CBS News opinion poll show that the public support for the Republican governor is sharply shrinking, as 60 percent of people in Wisconsin say they are opposed to Walker's decision to strip them of some collective bargaining rights from public unions.

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