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Italy Cabinet moves to trim perks, help low earners

Last Updated: Saturday, April 19, 2014, 02:30

Italian Prime Minister Matteo Renzi on Friday hailed a "structural revolution" after his cabinet approved a round of tax and spending cuts including a limit of five chauffeured cars per government ministry.

US 2013 deficit falls to $680 bn, half of 2009 peak

Last Updated: Thursday, October 31, 2013, 09:38

The US budget deficit plunged 37.5 percent in fiscal 2013 to less than half its level four years ago on sharp spending cuts and surging revenues, the Treasury said Wednesday.

Japan Cabinet Oks blueprint for spending cuts

Last Updated: Thursday, August 08, 2013, 17:33

Japan`s Cabinet has approved a blueprint for cuts to welfare and public works spending intended to repair the nation`s overstretched finances on Thursday.

Japan pledges huge spending cuts

Last Updated: Thursday, August 08, 2013, 13:12

Japan on Thursday pledged huge spending cuts amounting to USD 83 billion over two years as it works to bring down the industrialised world's biggest debt mountain.

US House OKs bill to avoid government shutdown

Last Updated: Thursday, March 07, 2013, 07:46

The US House of Representatives has approved legislation to prevent a government shutdown at the end of the month.

Obama mixes Star Wars and Star Trek metaphors

Last Updated: Saturday, March 02, 2013, 12:49

Obama mixed Star Wars and Star Trek metaphors as he explained why he could not force the Republicans and Democrats to a deal to replace the forced spending cuts that kicked in.

Obama signs order to begin $85 billion in spending cuts

Last Updated: Saturday, March 02, 2013, 09:11

The sequester is "dumb" but is "not going to be an apocalypse," Obama said after his nearly hour long meeting with the Congressional leaders.

Bobby Jindal slams Barack Obama for wasteful spending

Last Updated: Friday, March 01, 2013, 08:23

Louisiana Governor Bobby Jindal has criticised US President Barack Obama, saying his administration would go down in history for propagating government greed.

Spending cuts to hit US economy, weaken global economy: Obama

Last Updated: Thursday, February 28, 2013, 11:31

US President Barack Obama has cautioned that the looming automatic spending cuts or sequestration beginning March 1 will badly hit the country's economy and weaken the global economy.

Obama urges smart government spending cuts

Last Updated: Tuesday, February 26, 2013, 13:32

The uncertainty caused by the government spending cuts is already having an effect on US economy, Obama said in his remarks Monday to the National Governors Association at the White House, reported Xinhua.

`Obama encouraged by progress made on immigration reform`

Last Updated: Thursday, February 21, 2013, 08:19

US President Barack Obama is encouraged by the progress made in the US Congress on comprehensive immigration reform.

Obama calls for balanced mix of spending cuts and tax reforms

Last Updated: Saturday, February 09, 2013, 16:59

The US President Barack Obama on Saturday asked the Congress to act to avoid a series of harmful and automatic spending cuts, called sequester, by finding a balanced mix of cuts and tax reforms.