Obama Unveils New Budget Cuts
By JACKIE CALMES
WASHINGTON — President Obama on Thursday unveiled nearly $17 billion in additional budget cuts for the coming fiscal year to underscore what he called an “ongoing” effort to find savings at a time when the government’s costs for bailouts, health care and wars are mounting far faster.
“We can no longer afford to spend as if deficits do not matter and waste is not our problem,” said Mr. Obama, who was joined at the White House by Peter R. Orszag, the director of the Office of Management and Budget, and Rob Nabors, his deputy. “We can no longer afford to leave the hard choices for the next budget, the next administration — or the next generation.”
The savings for the budget year starting Oct. 1 represent the sum of Mr. Obama’s promised “line by line” scrubbing of the federal budget, and the the proposed cuts amount to about 1.4 percent of the $1.2 trillion deficit that is projected for the fiscal year 2010.
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