Go Finance Reporting in WASHINGTON - President of the United States (U.S.), Barack Obama on Saturday (04/09/2011) and then finally signed the budget after compromise with the rival Republican Party.
Both sides agreed to open a wider path for the reduction of budget deficits in the future by cutting spending by $ 38 billion (Rp342 trillion) for fiscal year 2011. However, these savings only apply to six months in the current fiscal year.
In his speech, Obama said that Washington is open to the deal. According to him, the U.S. Congress considered able to resolve differences over this between the government of the Republic. "I will and have made this wound in a better state. We also prevents important than the political debates and disputes that are not related to social issues, "Obama said.
Among U.S. ratification of the agreed expenditure is expenditure for social programs that are not trimmed. As for some expenditure items are salaries cut 800,000 federal employees and the possibility of delays in salary of U.S. forces in the Middle East and Afghanistan. In addition, to save expenses, the U.S. also will close a number of national parks and monuments in the second half of fiscal year 2011. Not to forget, a number of infrastructure projects are also threatened delayed its completion.
"This policy is to start a new life and became the only way to keep the investment and make the sector more competitive workforce," Obama said in his weekly radio address. (GoFinance)
I think the standoff between Democrats and Republicans was fake. It would be a solid political tactic to scare everyone in thinking the government might shutdown. By doing this both parties fire up their supporters and both parties can get more funding. The size of the budget cut they were "fighting so much" over was a tiny, almost pointless amount.
ReplyDeleteI like how Neil Cavuto made fun of the Cherry Blossom parade in D.C.