Monday, January 3, 2011

White House: 2nd Engine Is Fat That Can Be Cut

On Sunday's This Week With Christiane Amanpour, White House economic adviser Austan Goolsbee responds to ABC's Jake Tapper's question about fat in the budget (spending discussion begins at 6:30) :

Tapper: Where specifically does President Obama want to cut spending? Where is there fat to cut from the budget?

Goolsbee: Well, as you know the President's going to release his budget. We are going to have to make in the immediate run a series of tough choices. And the President's not afraid to do that and I think you will see that in his budget.

Tapper: Give me one. One spending cut the President's willing to do.

Goolsbee: Well, last year you saw they put out $20 plus billion in terminations and reductions. The President obviously doesn't just get to dictate what those cuts would be, but you saw with the Joint Strike Fighter second engine and a series of other specific cuts.

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