US President Barack Obama says his administration is ready to cut millions from the federal budget and trim the deficit.

In his weekly radio and Internet address to the nation on Saturday, Obama announced a plan for federal workers to propose ways to improve the budgets of their agencies and departments budgets.

Barack Obama, US President, said, "We don't want agencies to protect bloated budgets; we want them to promote effective programs. So the idea is simple: agencies that identify savings will get to keep a portion of those savings to invest in programs that work. The result will be a smaller budget, and a more effective government."

(CCTV April 26, 2009)