16 Jul '11, 11am

Obama calls for 'shared sacrifice' to solve debt issue

Obama calls for 'shared sacrifice' to solve debt issue

US President Barack Obama pauses during a news conference in the Brady Press Briefing Room at the White House in Washington July 15, 2011. -- PHOTO: REUTERS WASHINGTON - US PRESIDENT Barack on Saturday renewed his call for a compromise in solving America's debt problem, saying it would take a 'balanced approach' and 'shared sacrifice' for Democrats and Republicans to come to an agreement. 'Simply put, it will take a balanced approach, shared sacrifice, and a willingness to make unpopular choices on all our parts,' Mr Obama said in his weekly radio address. 'That means spending less on domestic programmes,' the president explained. 'It means spending less on defence programmes. ... And it means taking on the tax code, and cutting out certain tax breaks and deductions for the wealthiest Americans.' The US government reached its debt limit of US$14.29 trillion (S$17.42 trilli...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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