Wednesday, April 13, 2011

Another country, another debt crisis to be fixed

Obama unveils $4 trillion plan to cut deficit

"Barack Obama, the US president, has unveiled a $4 trillion deficit-reduction programme, and slammed Republican plans for sweeping spending cuts as an attempt to fracture America's social compact". ""It's about the kind of future we want, it's about the kind of country we believe in.", he said - Meanwhile..."The White House is already warning of financial 'Armageddon' should Congress fail to raise the US borrowing limit from $14.29 trillion dollars, a threshold it is set to exceed by May 16, or see the US default on interest payments of its debt". "The White House says the issues of the debt ceiling and constraining the runaway deficit are separate, and that Republicans should not "play chicken" with the economy". (just lurve the rhetoric in the speech, doncha?)

Posted by alan @ 10:54 PM (1573 views)
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One thought on “Another country, another debt crisis to be fixed

  • Teleprompter Obama prefers to be a turkey, doncha?

    ~ I just do what I’m told to do by my elders, that way I live through Christmas.

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