Go Finance Reporting in Washington - President Barack Obama has pledged to reduce the two things that lead to deficits the United States (U.S.) by 2013. Two things are spending cuts and tax increases up to $ 1, 1 trillion. Obama called it a "down payment" of fiscal control.
As quoted by Reuters on Tuesday (/02/152011), Obama said the plan would balance the deficit reduction and investment growth.
"What we're doing here is making advances, but we will work even more, especially Democrats and Republicans who will together make it happen," said Obama.
However, Obama's plan is drawn protests from some quarters. There are accusing Obama as a tax scraper which depletes to party supporters, Democrats.
The budget for investment that will be provided in areas such as construction of railway track at high speed, Internet broadband, and energy efficiency research. These votes will hurt poor people who need help for specific programs.
Obama noted that the budget proposal for fiscal year 2012 approximately $ 3, 729 trillion, which means experiencing a very rapid increase in the deficit over the previous year, 2011 is approximately USD1, 645 trillion. Furthermore, a drastic decrease up to USD1.101 billion for the year 2012.
This trend will cut the deficit in part of the U.S. economy to 3.2 percent in 2015 from 10.9 percent in this year. And Obama's promise to the 20 partners that divides the two deficit in 2013.
Two-thirds of USD1.2 trillion comes from spending cuts. The rest comes from a higher opinion as evidence of U.S. growth continues to take the step of increasing taxes. The President will seek additional approximately USD328 billion through various measures including policies to end tax breaks for big business on the income earned abroad. (GoFinance)
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