3 March 2013, 04:57

Obama seeks sequestration solution

Obama seeks sequestration solution

US President Barack Obama intends to get an early solution to the problem of sequestration (the automatic cancellation of unspecified across-the-board budgetary resources) from the US Congress.

In his weekly radio address to the citizens of the U.S. the American president promised to do everything possible to achieve an early compromise.

The president also accused Republicans that their unwillingness to reach a compromise was due to the fact that taxes would have to be raised for the wealthiest citizens.

On Friday evening, Obama signed a decree issuing a special order to the U.S. Government in connection with a reduction of budgetary expenditures.

According to the document, in the current fiscal year expenditures must be cut by $85 billion with more than half of the sum from the Pentagon’s budget.

The remaining reductions will affect the civil sector, including major programs in education and health care.

Voice of Russia, TASS

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