IMF chief applauds Obama deficit plan

The head of the International Monetary Fund on Thursday applauded US President Barack Obama's ambitious plan to slash the US government's huge deficit and debt burden. IMF managing director Dominique Strauss-Kahn called the need for advanced countries to get fiscal policies on a sustainable path "a real concern."
"The recent declarations by President Obama are very welcome; (he) goes clearly in that direction," Strauss-Kahn said at a news conference. On Wednesday Obama unveiled his plan for a combination of tax hikes and spending cuts to reduce the US budget deficit by $4 trillion over 12 years in a major policy speech.