Obama Announces Long-term Debt Reduction Plan

Washington, April 14 (IANS) The US President Barack Obama Wednesday announced its long-term debt plan, setting a goal to cut $4 trillion deficit over the next 12 years.

Delivering a speech at George Washington University, Obama said, this deficit reduction is a balanced approach to maintaining economic recovery, Xinhua reported.

Obama said his administration would take four steps to achieve debt balance, including savings on the defence budget, elimination of waste in healthcare spending, control of domestic expenditures and reform of the federal tax system.


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Title: Obama Announces Long-term Debt Reduction Plan

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