US budget cuts to kick in as Congress fails again | Bangkok Post: news

News > World

US budget cuts to kick in as Congress fails again

Leaders of a divided Congress failed to avert huge spending cuts set to begin Friday, with President Barack Obama trading blame with Republicans over the doomsday scenario that may lie ahead.

US President Barack Obama speaks to members of the Business Council during a dinner February 27, 2013 in Washington, DC. Obama accused Republican rivals Thursday of threatening the fragile US economic recovery by failing to move forward on his deficit reduction plan before severe budget cuts kick in.

The only related actions of substance Thursday appeared to be votes on two competing bills, one sponsored by Democrats and the other by Republicans, to replace the budget austerity with targeted spending cuts and tax revenues.

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

Most Viewed

  • 26,000 reds recall bloodshed

    Ousted premier Thaksin Shinawatra said the government's amnesty efforts must focus on absolving red shirts facing legal action in connection with the 2010 political violence rather than protest leaders or even himself.

Forum

image

Your comments

  • onlyasking

    ThailandPost : 460

    Send message

    Discussion 2 : 01 Mar 2013 at 09.532

    Just maybe the US will find out that the Fed can still function with less money.

  • faranginkorat

    Post : 231

    Send message

    Discussion 1 : 01 Mar 2013 at 09.051

    QE3 has been putting $85 BILLION PER MONTH into the economy, which is some $15 TRILLION GDP.
    America's number one problem is government overspending.
    603,000 jobs created last quarter?? If they came from the $85 billion a month stimulus, that is $450,000 per job!
    They should be cutting a TRILLION from the budget, not $85 billion.
    Why is austerity the answer for other countries that get into excessive debt situations, but when America is in the same situation the answer is more spending and money printing?????
    I moved my money out of US$.

Reply

Sign in once and access every part of the website at your convenience!

Please log in to our Bangkokpost.com community to post your comment.
You can sign in to the community by clicking here.

If you are not part of the community yet, please sign up here. By being part of this community you will get all these privileges.