President Obama today spelled out the details of his $4.3 trillion budget, including $17 billion worth of spending cuts.
The spending reductions, which must be approved by Congress as part of the process for considering the budget for the fiscal year that starts on October 1, include cuts in farm subsidies and defense spending.
"These savings, large and small, add up," he said. "We can no longer afford to spend as if deficits do not matter and waste is not our problem. We can no longer afford to leave the hard choices for the next budget, the next administration-or the next generation."
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Congress recently approved a broad outline of the budget but must now fill in the details before October.
Although Democrats control both chambers, there could be pressure from some fiscally conservative members of the party for further budget cuts. Republicans are already complaining about what they see as Obama's failure to cut spending enough.
"The resulting savings are relatively minor compared with the government's fiscal woes," said House Minority Leader John Boehner (R-Ohio).
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