Obama: The deficit is important as much as the unemployment is
The U.S. President Barack Obama said that reducing the budget deficit is as important as job creation, which earlier announced it as his main priority this year. To continue the economic recovery is a necessary fulfillment of both goals, said in a weekly address to the President shall transmit CNBC. According to the financiers, however, can be dangerous. Obama called it “a sign of progress” growth of U.S. economy by 5.7 percent in the last quarter of last year, but stressed that in parallel with the creation of new jobs must be tamed and the budget deficit that has accumulated too long. The president has outlined specific steps to reduce the deficit: balancing any reduction in revenue with an increase in other such freeze in spending discretionary appointment of a commission to reduce the deficit. Obama argued that the balanced budget rule, introduced in 90 years has led to a surplus at the end of the decade, but after its repeal by the Congress has reached a deficit of 1,3 trillion. dollars, which he inherited when taking office in January 2009.
“The restoration of this rule will help us get back on track,” said President Obama. The Senate voted Thursday to return to the rule, but have yet to rule the House of Representatives in the U.S. Congress.
Tags: Barack Obama, budget deficit, deficit, unemployment