Obama US Budget Cuts 2012
Published / Last Updated on 14/02/2011
Obama US Budget Cuts 2012.
US President Barack Obama has unveiled his budget for 2012, which aims to cut $1.1tn (£690bn) from the deficit over the next 20 years. The budget proposal sees a total spending of $3.73tn in the 2012 budget year, which begins in October. This is a 2.4 per cent reduction from the current year.
Mr Obama believes that drastic and rapid spending cuts are not the way forward, but the Republicans do not think the cuts go deep enough into tackling the deficit.
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