What the Financial Times of London described as “combative” US President Barack Obama warned last Saturday he was bracing for a fight against powerful lobbyists and special interests who sought to pick apart the US$3,550B (or US$3.55T) budget he wants to advance his agenda of reform.
Mr. Obama’s spending blueprint, with its massive US$1,170B (or US$1.17T) deficit and tax hikes on the wealthy, seeks to squeeze billions of US4s in savings out of current spending through competitive bidding among health insurers and ending subsidies and tax breaks for banks, agribusiness and oil companies. ”These steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business,” the president said in his weekly radio address.”I know they’re gearing up for a fight as we speak,” he said. ”My message to them is this: So am I.”
Popularity: 6% [?]
