Obama orders $85b spending cuts | Bangkok Post: breakingnews

Obama orders $85b spending cuts

Published: 2 Mar 2013 at 09.49
Online news:

President Barack Obama reluctantly ordered an $85 billion austerity drive that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the "dumb" spending cuts.

US President Barack Obama speaks to the media about sequestration at the White House in Washington, DC, March 1, 2013. Obama reluctantly ordered an $85 billion austerity drive that could slow the US economy and slash jobs, after blaming Republicans for refusing to stop the "dumb" spending cuts.

Obama complied with his legal obligations and initiated the automatic, across-the-board cuts in domestic and defense spending, following the failure of efforts to clinch a deal with Republicans on cutting the deficit.

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sirron
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Discussion 2 : 02 Mar 2013 at 17.322
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Pr. Obama
1. You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity.2. What one person receives without working for, another person must work for without receiving.3. The government cannot give to anybody anything that the government does not first take from somebody else.4. You cannot multiply wealth by dividing it!5. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that is the beginning of the end of any nation
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g.manont
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Discussion 1 : 02 Mar 2013 at 14.161
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" ...Republicans, who refused to close tax loopholes used by the rich and corporations..."

Could somebody explain what the tax loopholes are ?

BP ?

.
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