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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 This material may not be published, broadcast, rewritten or redistributed.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 128 183 20,949
MORTGAGES 130 174 24,535
FORECLOSURE NOTICES 0 23 8,633
BUILDING PERMITS 163 359 42,696
BANKRUPTCIES 61 116 14,018
BUSINESS LICENSES 24 46 6,447
UTILITY CONNECTIONS 29 85 13,596
MARRIAGE LICENSES 24 47 5,116

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