I awoke this morning with the President speaking to me in my dreams. It was a speech that spoke the truth about the past, the present and the future. It was about the budget and even though it was, in real time, early Monday morning, it was in my dreams Wednesday. As I turned on the TV the president began....
My fellow Americans, I stand before you today, as your humble president, having to admit making a mistake. I declare to you today to doing everything in my power from this moment forward to correcting it. I was not comfortable when this past decision was made and upon reflection I realize just how misguided and wrong it was.
A little over ten years ago a promise was made to you, the American people, with the full faith,credit and force of the American government. Lawmakers promised the tax cuts then being enacted would expire and the revenue stream would return to previous rates after 10 years. Budget planners back then projected the future budget outlook based on that revenue being reinstated.
But when that future became the present and that IOU came due I allowed it to be ignored and acquiesced to the continuance of those lower tax rates. Now that future promise, made in good faith over 10 years ago, lies broken in the recent past under my watch as president. That past promise to the future of America, having been broken, is now causing real pain and suffering to individuals in a myriad of ways throughout our country. It will continue to do so if not changed.
I ask you -What good are promises made to the future if not kept? How can we expect the young to trust their government when such promises made regarding their future are broken to satisfy the selfish wants of the present? When we tell them: " I'm sorry, we promised you the money but now that it is time to pay we have to say no. Our present is more important than your future. You'll have to make due with less. Our economy today, my standard of living today is more important than your future." No, my fellow Americans, I must not allow this past mistake I have made to stand. A promise made must be a promise kept. My children deserve this from their father. Your children deserve this from their country.
So today, as this great nation embarks on our great debate to get our financial house in order, let me make one thing crystal clear from the outset. I will veto any measure that hits my desk cutting spending if not first repealing the Bush era lower tax rates. This is the first step which must be taken before any other. We must correct the past before embarking on the future. In this regard I will not draw a line in the sand, as lines in the sand are too easily erased. Instead, let me say that I am drawing a line in granite. As your president, as the leader of this great country and with all the power vested in this office, I serve notice to all lawmakers charged with this forthcoming task of my decision. As long as I am your president I will not waver in my decision or cease in my efforts to reinstate the promise our government made to our children. I intend to correct my past mistake. I owe it to my children and yours.