President previews new budget
The President discussed his anticipated fiscal budget as a call for Washington to live within its means. President Obama asserted that his budget will call for, among other matters, sacrifices in spending on programs that he cares deeply about, but would ultimately reduce the deficit moving forward:
"My budget freezes annual domestic spending for the next five years - even on programs I care deeply about - which will reduce the deficit by more than $400 billion over the next decade. This freeze will bring this type of spending to it's lowest level as a share of the economy since Dwight Eisenhower was president."
photo © 2007 zack Mccarthy | more info (via: Wylio)The Weekly Address also focused on the need to cut wasteful spending and included a reiteration of the President's pledge to veto any bill that has earmarks. However, despite an attention to spending cuts, the President made it clear that investments in research, infrastructure, and education are investments that are worth keeping:
"I'm proposing that we invest in what will do the most to grow the economy in the years to come. This means job-creating investments in roads, high-speed rail, and broadband. This means cutting-edge research that holds the promise of creating countless jobs and whole new industries, like clean energy and biotechnology. And it means improving our schools and making college more affordable - to give every young person the chance to fulfill his or her potential, and receive the job training they need to succeed."
President Obama's Weekly Address:
