President Obama today spelled out the details of his $4.3 trillion budget, including $17 billion worth of spending cuts.
The spending reductions, which must be approved by Congress as part of the process for considering the budget for the fiscal year that starts on October 1, include cuts in farm subsidies and defense spending.
"These savings, large and small, add up," he said. "We can no longer afford to spend as if deficits do not matter and waste is not our problem. We can no longer afford to leave the hard choices for the next budget, the next administration-or the next generation."
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