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


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