Britain's government unveils its annual budget Wednesday, expected to focus on nurturing economic growth in the face of deep spending cuts and tax hikes aimed at slashing the nation's huge deficit.Finance minister George Osborne unveils his 2011/2012 tax and spend plans amid fears that his drastic belt-tightening measures could tip Britain back into recession.Prime Minister David Cameron's Conservative-Liberal Democrat coalition, which rose to power in May 2010, has sought to slash a record public deficit that it inherited from the previous Labour administration.
President Barack Obama said he offered congressional Republicans a “fair deal” during budget talks and accused them of “posturing” in negotiations.
“I have gone at least half way” and Republicans need to “take the deal” he’s offered, the president said Wednesday at the White House in Washington. “I’d like to get it done before Christmas.”
I’d like to get it done before Christmas
It’s insufficiently appreciated just how much of a problem the state of the public finances poses for the Left. The difficulty is: how can public borrowing be reduced without sacrificing leftist objectives?