Thursday, April 11, 2013

Obama Fiscal Year 2014 budget proposal to kick start deficit-reduction talks

U.S. President Barack Obama discusses the Fiscal Year 2014 Budget while acting Director of Office of Management and Budget Jerry Zients looks on. PHOTO/Reuters

(Reuters) - President Barack Obama proposed a US$3.77 trillion budget on Wednesday that combines controversial cuts to social safety net programs with tax increases on the wealthy in a package the White House hopes will jumpstart deficit-reduction talks.

The proposal, an annual attempt to identify and fund the president's

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