VOL. 126 | NO. 19 | Friday, January 28, 2011
Obama: Budget Proposal to End up Saving $400B
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.
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