Debt, deficit: US can’t afford more showdowns

HONOLULU: Fresh from the long legislative fight to prevent a ‘fiscal cliff’ of tax hikes and spending cuts, President Barack Obama warned on Saturday that the US could not afford further budget showdowns this year or in the future. Obama, who returned to Hawaii for a family vacation shortly after the House of Representatives passed a compromise bill on Tuesday, said in his weekly radio and internet address that the new law was just one step towards fixing the country’s fiscal and economic problems. “We still need to do more to put Americans back to work while also putting this country on a path to pay down its debt, and our economy can’t afford more protracted showdowns or manufactured crises along the way,” he said in the address broadcast on Saturday. “Because even as our businesses created 2 million new jobs last year, the messy brinkmanship in Congress made business owners more uncertain and consumers less confident.” Government data released on Friday showed the US unemployment rate remained at 7.8% in December.

Published in The Express Tribune, January 6^th, 2013.

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