{"id":282807,"date":"2011-02-26T17:48:34","date_gmt":"2011-02-26T17:48:34","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/26\/obama-calls-for-budget-consensus\/"},"modified":"2011-02-26T17:48:34","modified_gmt":"2011-02-26T17:48:34","slug":"obama-calls-for-budget-consensus","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/26\/obama-calls-for-budget-consensus\/","title":{"rendered":"Obama calls for budget consensus"},"content":{"rendered":"

\n \t\t
\n 26 February 2011<\/span>
\nLast updated at <\/span>12:48 ET<\/span>
\n<\/span><\/p>\n

US President Barack Obama has urged Congress to find “common ground” over the budget to prevent a government shutdown.<\/p>\n

In his weekly radio address, Mr Obama said economic recovery would stall if lawmakers could not agree on spending cuts before a 4 March deadline.<\/p>\n

Republicans and Democrats are trying to work out a compromise short-term budget as an interim measure.<\/p>\n

The 2012 budget proposes a $1.1tn (\u00a3690bn) deficit cut over a decade.<\/p>\n

Although Mr Obama is empowered to propose a budget, it is up to the US Congress to pass it into law and then to distribute the funds.<\/p>\n

“Next week, Congress will focus on a short-term budget. For the sake of our people and our economy, we cannot allow gridlock to prevail,” Mr Obama said in his weekly radio address.<\/p>\n

“I urge and expect them to find common ground so we can accelerate, not impede, economic growth,” Mr Obama said.<\/p>\n

“It won’t be easy. There will be plenty of debates and disagreements and neither party will get everything it wants. Both sides will have to compromise,” he added.<\/p>\n

\n\tContinue reading the main story<\/a>\t<\/p>\n

\u201cStart Quote<\/span><\/h2>\n
\n

There will be plenty of debates and disagreements and neither party will get everything it wants.\u201d<\/p>\n<\/blockquote>\n

End Quote<\/span>
\n\tPresident Barack Obama<\/span><\/p><\/div>\n

‘Interim plan’<\/span><\/p>\n

The president unveiled his proposed budget<\/a> earlier this month and described the proposal as a “down payment” on future cuts to the US budget deficit.<\/p>\n

He said the US had to live within its means and called for some reductions, but said “we can’t sacrifice our future” with drastic cuts.<\/p>\n

But Republicans, who control the House of Representatives, do not think the cuts go far enough in tackling the deficit.<\/p>\n

Republicans put together an interim proposal to cut $4bn (\u00a32.5bn) in federal spending on Friday as part of legislation to keep the government operating for two weeks past the deadline. <\/p>\n

House Democrats have reportedly responded positively to the plan, according to CNN. <\/a><\/p>\n

Neither party wants to be blamed for a government shutdown, but the Republicans say any plan will have to include cuts.<\/p>\n

“Our goal as Republicans is to make sensible reductions in this spending and create a better environment for job growth, not to shut down the government,” Senator Rob Portman said in his party’s weekly address.<\/p>\n

On Friday, fourth quarter US growth was revised down to a 2.8% annual rate from the 3.2% previously estimated.<\/p>\n<\/p><\/div>\n<\/p>\n

Excerpt from:
\nObama calls for budget consensus<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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