Bill Gates worries about effects of deficit reduction

Former Microsoft CEO and billionaire philanthropist Bill Gates warned governments Thursday against cutting aid as part of their efforts to reduce their deficits during the global economic downturn.

"As governments look to cut their deficits, they will look at all parts of their budgets," Gates said at a press conference in London today. "And these parts that are to help the poorest may or may not be cut as part of that process."

Gates, along with other international figures, specifically targeted France and Italy for not meeting international aid commitments.

"And so, highlighting the positive impact, highlighting the additional need, stating that there really is grassroots support for these things will be really supportive as you get into that period," Gates said. "This aid is going overwhelmingly to health, education, and agriculture."

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