August 21, 2014
WASHINGTON (AP) - President Barack Obama has vowed to cut the
country's budget deficit in half by the end of his first term.
Obama laid out the guiding principle of his budget policy at a White House conference. He said he believes the time has come for "a frank conversation" about the problem and said the deficit, projected to total $1.3 trillion this year, must be brought under control.
Obama declared the country "cannot and will not sustain deficits like this without end."
He also said that he wants to reinstate a pay-as-you-go policy on federal spending programs, get rid of programs that do not work and end tax breaks for companies that ship jobs overseas.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.