US House backs $3.6 trillion budget

Obama hails passing of 2010 budget as senate debates separate version.

    Obama hailed the move as another step towards rebuilding the struggling US economy [AFP]

    "By making hard choices and challenging the old ways of doing business, we will cut in half the budget deficit we inherited within four years," he said.

    Republican criticism

    But Republicans in both chambers of congress said the Democrats' proposed budget would hurt the ailing US economy and saddle future generations with too much debt.

    In depth
    "The administration's budget simply taxes too much, spends too much and borrows too much at a moment when we can least afford it," Mitch McConnell, the Republican senate minority leader, said on Thursday.

    Both House and senate budget plans aim to boost spending on domestic programmes, raise taxes on the wealthy in two years' time and clear the way for action later in the year on Obama's priorities of healthcare, energy and education.

    The news comes as world leaders at the G20 summit, including Obama, agreed on a compromise package of $1 trillion in stimulus funds and more market regulation to help combat the worst global economic crisis since the 1930s.

    The White House has already enacted a $787bn economic stimulus measure signed into law by Obama in March in a bid to combat the deepening US recession.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Revival: The Muslim Response to the Crusades

    Revival: The Muslim Response to the Crusades

    This part of 'The Crusades: An Arab Perspective' explores the birth of the Muslim revival in the face of the Crusades.

    Going undercover as a sex worker

    Going undercover as a sex worker

    A photojournalist describes how she posed as a prostitute to follow the trade in human flesh.

    Africa is not poor, we are stealing its wealth

    Africa is not poor, we are stealing its wealth

    It's time to change the way we talk and think about Africa.