World News - President Barack Obama's vision describes its financial policies to reduce the budget deficit the United States. In the plan, the budget will be cut by nearly $ 4 trillion during the twelve years until 2023.
However, the government will not sacrifice what he called the major investments, such as security budget or the United States interests abroad.
To that end, Obama will increase taxes for people in, which was opposed by members of Congress from Republicans.
"We must live according to our capacity, reduce the deficit and return to the path that allows us to pay the debt," Obama said in a speech at George Washington University in Washington DC, as reported by the BBC on Thursday (14 / 4).
"And we must do so in a way that can protect the recovery and protect the investment we need to grow, create jobs and win the future."
Obama also attacked the Republican plan which he said would adversely affect the poor and elderly with tax cuts for the wealthy.
Increasing the budget deficit the United States became a major issue in the presidential election campaign of 2012.
The budget deficit is expected to reach U.S. $ 1.5 trillion this year, and both Democrats and Republicans alike set deficit reduction as a priority.
And in recent weeks, the Republicans had drafted their own to reduce the deficit.
The design was based on the reduction of social benefits and health programs for the poor and elderly as well as reducing the education budget.
Under the Republican budget, the budget cuts is higher than planned Obama, reaching U.S. $ 6.2 trillion.
The draft was submitted by the U.S. House Budget Committee Chairman, Paul Ryan, who also will reduce your taxes drastically for the group is located.
In his speech, Obama specifically refers to the tax reduction, which contrasts with its plan to increase taxes on these groups.
Republican officials firmly rejected the plan tax increases proposed by President Obama.
"We do not believe that the lack of income that becomes the case, so we will not discuss tax increases", said one Republican leader in the Senate, Mitch McConnell.
Analysts expect the fight in the government budget for the financial year which begins October 1, will be increasingly fierce.
Last week, the U.S. government threatened almost can not work because the Democratic and Republican leaders struggled to reach agreement in the government budget for the next six months.
But the agreement finally reached shortly before midnight, Friday, April 8, to reduce a budget of U.S. $ 38.5 billion by 30 September.
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