Obama backs Pentagon budget cutsBy ANI
Wednesday, January 26, 2011
WASHINGTON - Stating that it is imperative for the United States to tackle its deficit, President Obama on Tuesday reiterated his support for 78 billion dollars in cuts to the Pentagon’s budget over five years, in addition to the five-year partial freeze on domestic spending.
But, according to the Washington Post, he did not adopt any of the recommendations of the bipartisan fiscal commission he appointed to figure out ways to bring the deficit under control.
While the commission recommended an overhaul of the tax code, including for individual and corporations, Obama called only for revamping the corporate tax code without increasing the deficit, leaving the more politically complicated task of altering the code for individuals to another day.
Obama, who was delivering his annual State of The Union address to the US Congress, also ducked the Social Security question, saying simply that he wanted a “bipartisan solution” to the problem, “without slashing benefits for future generations.” (ANI)