Inside these posts: Austerity

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Obama austerity drive gets mixed CEO reaction

Business leaders in Davos gave a mixed reaction on Wednesday to the austerity steps proposed by U.S. President Barack Obama in his State of the Union speech, with some questioning whether they go far enough.

In a speech on Tuesday outlining a more bipartisan political agenda, Obama offered corporate tax cuts and a five-year partial federal spending freeze that he said would cut $400 billion from budget deficits over a decade. Get the full story »