February 27th, 2013

Obama has always planned to slash spending

Economics & Politics

To hear US President Barack Obama tell it this week, the budget sequestration – automatic spending cuts due to kick in on Friday March 1 – will decimate the government. Each party is blaming the other, as if something new and unexpected was about to begin. Many of the pending cuts are indeed ill-advised, but the surprising truth is that from the start of his presidency Mr Obama has planned a steep decrease in discretionary spending as a share of national income…

Full article can be read at The Financial Times.

Or you can download the PDF version here.

 

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