US President Barack Obama, is warning that America is facing an untenable fiscal situation, and will have to get serious about tackling its budget deficit.
Obama made the comment, while meeting his economic recovery advisory board. The U.S. budget deficit is forecast at a record 1.47 trillion dollars, in the fiscal year that ended on the 30th of last month.
Obama, says emergency government spending measures which were taken, to support growth and employment, have temporarily added to the funding gap, but... the deficit needs to be tackled now. Nevertheless, he vows not to cut back on investments such as education.
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President Barack Obama on Monday said the United States was facing an "untenable fiscal situation" and would have to get serious about tackling its federal deficit. |
全球公众传媒摘编:GAN JADE |