Barack Obama reveals US Congress requires making more cuts for making up for the fiscal deficit. The government needs to finalize a deal over limits to borrow.

The deal if passed by the Congress would reduce the pressure over meeting 2011 budget for the government however the problem would remain same regarding the more difficult time lying ahead. The President justified the suggested cuts which he stated are vital for the sustenance of the US economy.

The opposition Republicans have been crying aloud not to raise the debt limits from the level of $14.3 trillion, in case the spending concessions are not increased by the Democrat government.

However the Democrats consider it a separate issue and do not want to mix up increasing debt limit with spending. The United States is almost reaching its debt limit prescribed constitutionally by mid of May. In case the nation does not lift its debt limit it would be in defaulter’s line for its own debts.

However, Obama did not clarify whether the Congress would vote for spending and debt limit issues simultaneously or hold specific votes for the votes.

Obama also did not rule out the possibilities of accepting the oppositions’ demand for clubbing spending cuts with increase in debt limit.