It was announced during his weekly radio and the internet on Saturday (02 / 7).
Obama acknowledged that giving tax incentives to the millionaire is nice, but the policy was not sustained.
"We have to cut the deficit, but we can do it while investing in education, research and technology that can create jobs," said Obama tried to convince.
Ironically for a reason to cut the budget deficit, education has been affected by it first. In the area of Providence, Rhode Island, nearly 2,000 teachers have received notice that any time they would be fired in February. Read the news before the U.S. Thousands of Future Teacher Fired, School Closed.
As reported by Deutsche Welle (30 / 6) United States must raise the debt limit of the maximum, if not, said the International Monetary Fund (IMF), the U.S. economy and the world will feel the consequences.
"If the U.S. government for the first time in history could not pay his debts, if the U.S. eventually went bankrupt, then the consequences for the U.S. economy will be terrible," Obama said in an apple before.
"I think the majority of Americans agree with this solution," Obama said.
Despite the urgency, but that demand does not necessarily have the support of the Republican stronghold that controls parliament. They want to be more frugal Obama administration. Moreover, closing tax loopholes for the rich means also a tax increase.
Republicans urged Obama to save the budget without raising taxes, while Democrats want to balance their budgets.
Budget deficit of 4 trillion dollars over 12 years into Obama's goal. You do this by saving the state spending, the military budget and the cost of health insurance, and closing tax-free opportunities.
Tug budget problems can not be separated from the next election, where budget savings could be passed if Obama, he will get an extra vote from the people. While Republicans are the majority in parliament use its dominance to the theme of saving.
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