Obama is Trimming the Fiscal Deficit

The fiscal deficit in the United States for this year will reach the $1350Bn, according the calculations from the Congress Budget Office (CBO), this will suppose a light reduction respect the $1400Bn from the fiscal year 2009.

In his official report, featured yesterday, the CBO also predicted a fall of the deficit to $980.000 million for the fiscal year 2011, what is the 6,75% of the Gross Domestic Product (GDP) of the country.

The fiscal deficit will be reduced to $480.000 million by 2015

The report forecasts a slow economic recovery along this year, and calculates that the economic growth will be slightly over 2% and the unemployment rate around 10,1%.

For the next year, the unemployment rate will be slightly reduced and will remain around 9,5%, indicated the CBO.

The projections of the CBO are being released after civil servants from the government revealed to the president of the United States, Barack Obama,that will propose in his speech about the Union State, a partial freeze of the federal budget, that has been released on Monday.

With this initiative, Obama expects trim the expenditure by $250Bn in ten years, and contribute so to reduce deficit.

The measure would affect the Federal programs and entities for which the Congress supplies a budget each year, from the national parks to the education.

Exempt of freeze will remain, however, expenditure in safety, Defense and the international aid.

Also will not be affected the budget of social security and the main programs of public health, Medicare and Medicaid.

Obama promised to trim by the half the fiscal deficit by 2013.

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