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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 This material may not be published, broadcast, rewritten or redistributed.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 56 212 11,977
MORTGAGES 68 295 15,645
FORECLOSURE NOTICES 23 80 3,103
BUILDING PERMITS 0 606 28,832
BANKRUPTCIES 81 291 11,598
BUSINESS LICENSES 29 102 4,257
UTILITY CONNECTIONS 89 428 17,611
MARRIAGE LICENSES 20 81 3,645

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