G-20 Leaders Pledge to Slash Deficits

Leaders of major industrialized and developing nations have returned to their home countries, after endorsing a plan that calls for the world's richest nations to cut deficits in half within three years.

Canadian Prime Minister Stephen Harper announced the plan at the end of the G20 summit in Toronto.

Countries will be allowed to slash deficits at their own pace, depending on their respective economic situations.

U.S. President Barack Obama endorsed the goal of cutting the U.S. deficit in half by 2013, but voiced concern that reducing spending too drastically could stifle economic growth.

Read Full Article from Voice of America

- Posted: 2010-06-28 10:35:28

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