UK Govt announces 62 billion cuts package

UK Chancellor, George Osborne today outlined the coalition Government's massive spending cuts, stating that "urgent action" is needed to combat the UK's budget deficit.

Source:
http://www.fsteurope.com/news/osborne-unveils-spending-cuts/

Obama Agnostic on Deficit Cuts Wont Prejudge Tax Increase

President Barack Obama said he is agnostic� about raising taxes on households making less than $250,000 as part of a broad effort to rein in the budget deficit.

Obama repeatedly vowed during the 2008 presidential election campaign that he would not raise taxes on individuals making less than $200,000 and households earning less than $250000 a year

Source:
http://www.businessweek.com/news/2010-02-11/obama-agnostic-on-deficit-cuts-won-t-prejudge-tax-increases.html