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US debt panel proposes major cuts

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US debt panel proposes major cuts

A
Al Jazeera English

4 Views • Jul 24, 2012

Description

As world leaders deliberate on ways to revive the global economy, a key US panel appointed by Barack Obama is proposing radical spending cuts.

The proposed $4 trillion in cuts include defense expenditures, retirement benefits - and an increase in the fuel tax.

Al Jazeera's Nick Spicer reports on the controversial cuts - many of which are unlikely to materialize.