U.S. House passes Republican budget for fiscal 2012
WASHINGTON (Reuters) - The U.S. House of Representatives on Friday passed a budget plan for the next fiscal year that would cut federal spending by around $6 trillion (3.67 trillion pounds) over a decade and includes controversial long-term cuts to healthcare programs for the elderly and poor.
By a vote of 235-193, the Republican-controlled House passed the budget for fiscal 2012, which starts on October 1. It has been attacked by President Barack Obama and Democrats in Congress for cutting social programs while also reducing the tax burden for high-income earners.
The Senate is expected to unveil a much different budget plan in coming weeks.
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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.