US debt panel proposes big cuts

New bipartisan debt commission drafts controversial plan to chop almost $4tn in federal spending.

As world leaders deliberate on ways to revive the global economy, a US panel appointed by Barack Obama is proposing radical spending cuts.

The proposed $4 trillion in cuts include defence expenditures and retirement benefits – and an increase in the fuel tax.

Al Jazeera’s Nick Spicer reports on the controversial cuts, many of which are unlikely to materialise.

Source : Al Jazeera

More from Economy
Most Read