As Washington prepares for another fiscal showdown, President Obama used this week's address to restate his position that the nation must take a balanced approach that focuses, not only on cutting waste, but also investing in America's future:
"We all agree that it's critical to cut unnecessary spending. But we can't just cut our way to prosperity. It hasn't worked in the past, and it won't work today. It could slow down our recovery. It could weaken our economy. And it could cost us jobs - not just now, but in the future.
What we need instead is a balanced approach; an approach that says let's cut what we can't afford but let's make the investments we can't afford to live without. Investments in education and infrastructure, research and development - the things that will help America compete for the best jobs and new industries."
President Obama's Weekly Address: