Saturday, March 2, 2013

Obama signs order to begin spending cuts

 
2.03.2013, 07:38
President Barack Obama has signed an order authorizing the government to begin cutting $85 billion from federal accounts, officially enacting across-the-board reductions that he opposed but failed to avert.
Obama acted Friday, the deadline for the president and Congress to avoid the steep, one-year cuts.Obama has insisted on replacing the cuts, known as a "sequester" in government budget language, with tax increases and cuts spread out over time. Republicans have rejected any plan that included tax revenue.
Source: Voice of Russia

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