Barack Obama

“ And it’s a budget that doesn’t make harsh and unnecessary cuts that only serve to slow our economy. We’ll keep our promise to an aging generation by shoring up Medicare. And we’ll keep our promise to the next generation by investing in the fundamentals that have always made America strong – manufacturing and innovation, energy and education. ”

“ My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families – but through the balanced approach that the American people prefer, and the investments that a growing economy demands. ”

“ Now, the truth is, our deficits are already shrinking. That’s a fact. I’ve already signed more than $2.5 trillion in deficit reduction into law, and my budget will reduce our deficits by nearly $2 trillion more, without harming the recovery. That surpasses the goal of $4 trillion in deficit reduction that many economists believe will stabilize our finances. ”

“ Our top priority as a nation, and my top priority as President, must be doing everything we can to reignite the engine of America’s growth: a rising, thriving middle class. That’s our North Star. That must drive every decision we make.
Now, yesterday, we learned that our businesses created 95,000 new jobs last month. That’s about 500,000 new jobs this year, and nearly 6.5 million new jobs over the past three years. ”

“ While it’s not my ideal plan to further reduce the deficit, it’s a compromise I’m willing to accept in order to move beyond a cycle of short-term, crisis-driven decision-making, and focus on growing our economy and our middle class for the long run. It includes ideas many Republicans have said they could accept as well. It’s a way we can make progress together. ”

“ And we’ll enact commonsense tax reform that includes closing wasteful tax loopholes for the wealthy and well-connected – loopholes like the ones that can allow a billionaire to pay a lower tax rate than his or her secretary. ”