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VOL. 126 | NO. 19 | Friday, January 28, 2011

Obama: Budget Proposal to End up Saving $400B

AP

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WASHINGTON (AP) – President Barack Obama says the budget he plans to send to Capitol Hill next month will trim spending with a scalpel, not a chain saw, and that it will save about $400 billion.

In an interview Thursday on YouTube, Obama also gave one example of a program that might be cut, citing community action grants for cities.

Says Obama: "Frankly, we're just going to have to trim some of these programs."

He says the administration wants to "cut with a scalpel, as opposed to a chain saw" and revealed that the budget will save about $400 billion.

The White House has said the budget plan will be rolled out the week of Feb. 14.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 50 299 14,717
MORTGAGES 59 436 19,330
FORECLOSURE NOTICES 14 91 3,796
BUILDING PERMITS 135 697 35,330
BANKRUPTCIES 58 306 14,034
BUSINESS LICENSES 22 87 5,013
UTILITY CONNECTIONS 121 483 21,433
MARRIAGE LICENSES 22 104 4,557

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