Barack Obama has set Wednesday as a target of reducing the budget deficit of U.S. 4,000 billion dollars over 12 years or less.
His plan would reduce the deficit to 2.5% of GDP in 2015 and 2% by the end of the decade, sources said parliamentarians who read the draft before the President of the United States does not pronounce his speech.
Barack Obama told the leaders Democrats and Republicans in Congress before making his speech.Vice President Joe Biden will meet in early May the leaders of both parties to develop a definitive program for reducing the budget deficit by the end of June.
The head of the White House also wanted to begin discussions with parliamentarians Republicans and Democrats on the issue of worsening deficits budétaires.
He explained that the budget savings would be realized by combining spending cuts and increased revenue through higher taxes.
The U.S. president wants to end special tax benefits that were granted to the wealthiest classes of the time of his predecessor George W.Bush.
"I refuse to renew them again," he said.
Antiplane Ryan
It plans to achieve $ 770 billion in savings on expenditure items not related to security and $ 480 billion in savings on Medicaid and Medicare programs.An additional savings of at least 1,000 billion could be reached on these two programs by 2033.
Barack Obama said that his budget plan is to reduce the debt service of $ 1,000 billion.
He added that the Pentagon budget will be reviewed in order to eliminate unnecessary and increase efficiency.
The fiscal deficit of the United States is likely to reach 1,650 billion this year and U.S. president to a device by which budget cuts would be automatically activated if the budget targets were not achieved by 2014.
The goal is that deficits do not exceed 2.8% of GDP on average during the second half of the decade.This device is not the first, the other presidents that have implemented in the past.
A week earlier, Paul Ryan, Chairman of the Budget Committee of the House of Representatives put forward a draft budget devoted a goal of deficit reduction of 4.400 billion.
Obama wanted to present a project that contrasts markedly with the Ryan plan, in that it wants to combine tax cuts with a complete overhaul of the Medicare system.
