Page last updated at 03:12 GMT, Thursday, 28 January 2010

Obama proposes government spending freeze

Barack Obama has proposed a freeze in government spending for three years starting in 2011.

The president said that the huge budget deficit had to be tackled.

''We've already identified $20 billion in savings for next year. To help working families, we will extend our middle-class tax cuts. But at a time of record deficits, we will not continue tax cuts for oil companies, investment fund managers, and those making over $250,000 a year. We just can't afford it."

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