US President Barack Obama slams 'trickle-down economy'

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US President Barack Obama said his Republican rivals remained proponents of the idea of a trickle-down economy when it was clear it did not work.

Speaking at an annual Associated Press meeting, he said that instead of moderating their views, the Republicans running Congress had "doubled down" and proposed a budget "so far to the right it makes the Contract With America look like the New Deal".

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