U.S. President Barack Obama on Thursday announced his administration's plan make 121 cuts from the 2010 budget in an effort to streamline the budget, and save the failing U.S. economy more than $17 billion for the upcoming year. Speaking on the issue briefly in the White House, Obama's comments, which urged quick and bi-partisan action on approving the moves, comes after the Office of Management and Budget, as headed by Peter Orszag and Rob Nabors, identified the “unnecessary” programs. The 2010 budget, which is focused on education, health care, energy, and employment reform, will also be seated in “fiscal responsibility,” Obama said. While Obama made clear that the program cuts are not meant to criticize those working for those programs, he did say that “there is a lot of money being spent inefficiently, ineffectively, and—in some causes—in ways that are actually pretty stunning.” The effort to streamline the budget will also work to cut the total U.S. deficit, which has now totaled over $11 trillion, in half by 2012. Obama announced ending “unnecessary no-bid contracts,” which will save Americans up to $40 billion a year. He also said that in the next 10 years, the U.S. will bring non-defense discretionary spending to its lowest levels since 1962, Obama said in his comments. While Obama stressed urgent action from lawmakers, he did also urge patience. “None of this will be easy,” he said, adding that today's move was “an important…first step” in building a “more efficient and more effective” government.
