Obama vows to halve massive budget deficit
Wednesday, 25 February 2009
WASHINGTON, Feb 24 (AFP): President Barack Obama yesterday vowed to halve by 2013 the huge budget deficit bequeathed by the Bush White House, warning inaction would leave Americans wallowing in debt and thwarted dreams.
After spending weeks imploring lawmakers to dish out billions of dollars in stimulus funds, Obama warned of the consequences of buckled US government balance sheets, opening yet another high- stakes week for his young presidency.
The latest push on the economy came as US stocks dived to their lowest levels since 1997, with analysts blaming a lack of details on Obama's plan to rescue the finance industry for the free-fall.
After spending weeks imploring lawmakers to dish out billions of dollars in stimulus funds, Obama warned of the consequences of buckled US government balance sheets, opening yet another high- stakes week for his young presidency.
The latest push on the economy came as US stocks dived to their lowest levels since 1997, with analysts blaming a lack of details on Obama's plan to rescue the finance industry for the free-fall.