US President Barack Obama: Tough budget cuts a necessity

Barack Obama has unveiled his 2012 budget, saying that "tough choices" had to be made on cuts, but that it was important to "walk the walk" when it came to fiscal discipline.

The US president described the economic plan as a "down payment" on future cuts to the US budget deficit, which is to be reduced by $1.1tn (£690bn) over a decade.

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