Obama plans to half US deficit in four years

President Barack Obama is to present plans to half the federal budget deficit by end of his first term, a senior administration official told AFP on Saturday.
The president is expected to roll out his budget proposals over the coming week, with a central aim of halving the US's soaring trillion-dollar-plus deficit.
Savings will be made by cutting spending on the war in Iraq and by eventually raising taxes for the "wealthiest Americans," the official said.
The official did not specify how much money a person must make to be categorized as the "wealthiest." But during the election campaign, Obama included into this group people making more than $250,000 a year.
The administration is expected to deliver its budget the 2010 fiscal year to Congress on Thursday, with the full multi-year budget expected in April.
On Tuesday President Obama will address a joint session of Congress, where he will lay out the first program of governance.
Even before the recent 787 billion stimulus plan was approved the federal government faced a deficit of over one trillion dollars.
With many seeing further budget stimulus packages as necessary, Obama will have to appeal to fiscal conservatives, wary that the government is placing too much debt on future generations.
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Ukrainian city of Sloviansk hit by 'massive shelling' by Russia: Mayor
A day after Russian President Vladimir Putin declared victory in seizing an eastern Ukraine province essential to his wartime aims, a city in the path of Moscow's offensive came under sustained bombardment, its mayor said Tuesday. Mayor Vadim Lyakh said in a Facebook that “massive shelling” pummeled Sloviansk, which had a population of about 107,000 before Russian invaded Ukraine more than four months ago.
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Mississippi judge to hear challenge to abortion law by state's only clinic
A judge is holding a hearing Tuesday to consider a lawsuit filed by Mississippi's only abortion clinic, which is trying to remain open by blocking a law that would ban most abortions in the state. The Jackson Women's Health Organization sought a temporary restraining order that would allow it to remain open, at least while the lawsuit remains in court. It does not have an exception for pregnancies caused by incest.
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China resumes in'tl flights after 2 years, services to India still in limbo
China has started permitting international flights after a two-year ban due to the Covid-19 pandemic, but there is no word yet on the resumption of air services to India even after Beijing lifted a visa ban for Indian professionals and their families last month. China is also processing the list of hundreds of Indian students wanting to return to the country to re-join their colleges. Beijing is reportedly reviewing the Indian student lists.
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China says talks with US Treasury chief Yellen constructive, pragmatic
Chinese vice-premier Liu He had a “constructive” dialogue with US Treasury secretary Janet Yellen on Tuesday with both sides agreeing to strengthen “macro-policy communication” and coordination, according to a statement from China. Liu expressed concern over the additional tariffs that the US had imposed on Chinese goods during the video conversation, the official Chinese statement, released by state news agency Xinhua said. The exchange was “pragmatic and frank”, the Chinese statement said.
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European Parliament overwhelmingly ratifies landmark tech laws
The European Parliament on Tuesday ratified landmark laws that will more closely regulate Big Tech and curb illegal content online, as the EU seeks to bring order to the internet "Wild West". "With the legislative package, the European Parliament has ushered in a new era of tech regulation," said a key backer of the laws, German MEP Andreas Schwab.