LiftoffBy Leslie Horwitz on April 11, 2011 at 10:00 am
- The Budget Crisis: Later this week, Obama will lay out his long-term deficit reduction plan that will take “a scalpel, not a machete,” to programs like Medicare and education services and try once again to extract more taxes from the wealthiest Americans.
- Down to the wire: A plan was finally agreed on this past Friday night that would cut this fiscal year’s budget over the remaining six months by $38.5 billion. The compromise evaded a complete government shutdown.
- African Union says Libya accepts cease-fire plan: The African Union’s road map calls for an immediate cease-fire, cooperation in opening channels for humanitarian aid and starting a dialogue between the rebels and the government. However, AU officials made no mention of any requirement for Gadhafi to pull his troops out of the cities as rebels have demanded.
- Former Egyptian president Mubarak calls accusations “lies”: Mubarak addressed the nation Sunday for the first time since a popular revolution forced him from office on February 11. He defended himself and his family against accusations of corruption. Mubarak denied that he had looted the country or sheltered an illicit fortune in foreign bank accounts or real estate.
- Gas Prices Soar: The average U.S. price of a gallon of gasoline has jumped 19 cents over the past three weeks. The Lundberg Survey of fuel prices now puts the average price for a gallon of regular at $3.76.
- Charl Schwartzel of South Africa won the Masters on Sunday: Swartzel was perhaps the unlikeliest candidate to break through. He finished the round with four straight birdies to sprint ahead of the pack and win at 14-under par.
(Photo by Martin Pettitt under a Creative Commons license)