Obama bid to block spending cuts take effect the bipartisan respective hardline
Obama bid to block spending cuts take effect the bipartisan respective hardlinein Boots for women cheap online sale 21.02.2013 04:30
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U.S. President Barack Obama at the White House on February 19 local time speech again put pressure on Congress to avoid government spending cuts plan automatically take effect on March 1. He warned, meat slicer-budget reduction plan Cheap Jordan Air Max
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www.jordan13airmaxfusion.com will affect the economic recovery and employment, and threats to critical public services provided by the Government. Some analysts pointed out, Obama and congressional Republicans are tough to adhere to their respective positions, the budget reduction plan in effect a high likelihood.
Wells Fargo senior economist Mark Ventura said, from the past few weeks, the growing swept various items of expenditure of the federal government "trigger" the possibility to start March 1. However, in view of the financial crunch caused by the consequences will be very serious, the U.S. Congress is expected to take remedial action in the next few months.
Xie Dongming, an economist at OCBC Bank in Singapore, that the spending cuts take effect automatically with the previous fiscal cliff "different, it is more like a ramp, belongs to a gradual decline, this year, the reduction process will be in March and will continue until September . But spending cuts take effect automatically bound to impact on the U.S. economy and job market will be.
Although the start date of the "trigger" is imminent, but the two parties has not yet signs of breaking the deadlock. Congress on recess this week, which means that any vote as early as next week only prevent spending cuts plan take effect automatically solutions,Cheap Nike Air Max
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According to the agreement reached by U.S. Democratic Party and the Republican Party in the summer of 2011, unless Congress passed a new bill, or the federal government spending 10 years from 2013 onwards automatically cut $ 1.2 trillion, half from defense spending to cut down the other half falls on other items of government expenditure. This mechanism is called "triggers". Bipartisan fiscal cliff "agreement reached in January of this year, will be postponed until March 1 implementation of this spending cuts. In accordance with the law, from March 1 to the end of this financial year (end of September), to cut about $ 85 billion in federal government spending.
Obama said the plan to take effect automatically once the $ 85 billion in spending cuts, and all aspects of government operations will be affected. For example, he said, FBI agents may be forced layoffs, pay for police, firefighters, and teachers of the expenses will be cut, and the United States in the global scope of the ability to respond to threats will be weakened.
Although the United States both parties believe that massive government spending cuts will hurt the U.S. economy, and a threat to national security, but the two sides on how to stop the plan, there are still hard to reconcile the differences. Important content of the White House and the Democrats proposed spending cuts and tax increases parallel the so-called "balanced program", which is to implement the "Buffett rule," that is, the annual income of more than 1 million U.S. dollars plus tax. Obama said, "balanced program" is the best way to Cheap Nike Free Run 2
www.cheapesnikefreerun.com replace the automatic spending cuts measures. The Republican side is to reject any tax increase measures, they think, "financial cliff" negotiations early this year has been to increase taxes make a compromise now turn to cut spending. Republicans hoped that in the longer-term extension of some spending cuts. They also expressed their willingness to accept the part of the tax reform, the elimination of tax loopholes, the cancellation of tax incentives, but Republican requirements to rectify the tax system in order to reduce the tax rate, rather than increasing government revenue.
Defense spending slashed and "financial cliff" bring uncertainties dragged down last year, the U.S. economy contracted by 0.1% in the fourth quarter. The bipartisan Congressional Budget Office estimates that the automatic spending cuts likely to drag on Cheap Nike Free Run
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nikefreeruncheap.au8.org U.S. economic growth by 0.6 percentage points this year, and up to cause the loss of 750,000 jobs. The IMF also urged the United States to develop a medium-and long-term fiscal consolidation program, to avoid excessive fiscal austerity in the short term.
In view of the U.S. government are often less than the last minute not acting style consensus, whether the spending cuts take effect automatically expected until March 1 to the final outcome