TORONTO, June 27 (UPI) -- The Group of 20 nations agreed Sunday to try to halve government deficits by 2013 www.canada-gooses-jakker.com, create jobs selger canada goose, strengthen financial systems and foster global growth. In a declaration at the close of the two-day economic summit in Toronto, the Group of 20 nations also called for stabilizing the ratio of public debt to gross domestic product by 2016. The non-binding deficit-reduction target, the first by the G20 www.canadagoosestoreca.com, received the backing of European countries. It came hours after U.S. President Barack Obama warned cutting spending too quickly could jeopardize worldwide recovery and suggested stimulus spending would reduce unemployment and spur investment. Many countries disagreed more stimulus spending was the answer. "The U.S. may be concentrated on premature fiscal tightening buy canada goose Parka, but most other countries are looking with a nervous eye to the sovereign debt mess in Europe canada goose nettbutikk," Kenneth S. Rogoff, a Harvard economist and former official at the International Monetary Fund canada goose billig, told The New York Times. "Aiming for a gradually improving debt-to-GDP ratio by 2016 is hardly wild-eyed fiscal conservatism." The declaration marked the first time the G20 has set dates for reduction of deficits, but most of the countries already had developed budgets within the targets. Speaking at a news conference after the summit, Obama said, "Because a durable recovery must also include fiscal responsibility buy canada goose, we agreed to balance the need for continued growth in the short term and fiscal sustainability in the medium term." The president said U.S. policies had helped revive the economy and presented a more upbeat global view than some other leaders. "Globally, economic contraction has given way to economic growth canada goose jakke billig," Obama said www.kjopgoosejakker.com, citing rebounding trade and growth among emerging economies. "We have pulled ourselves back from the brink, and begun to move forward with economic recovery."

• Euro ministers put off $17B Greek aid deal
• Jefferson Co. faces costly climb from woes
• Investigative reporter found dead