Economy

Looming Budget Cuts

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Congress should stop fretting over the mechanics of implementing a huge, indiscriminate budget cut early next year. Instead they should try to pass a more reasonable plan to reduce deficits. Acting White House budget director Jeff Zients rejected assertions that President Barack Obama was responsible for the stalemate over the looming budget cuts. Zients said the problem was Republicans' reluctance to consider higher taxes on the wealthiest Americans.

Read it at Reuters


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