President Obama Remarks on FY 2014 Budget RequestWhite House Live:
Speaking from the white House, President Obama delivers a statement on his FY 2014 Budget Request. Later in the evening, the President meets with 12 Senate Republicans for dinner and discussion of his budget request.
Transcript of today's speech:
Remarks by the President Announcing the Fiscal Year 2014 Budget
11:00 A.M. EDT
THE PRESIDENT: Good morning, everybody. Please, please have a seat. Well, as President, my top priority is to do everything I can to reignite what I consider to be the true engine of the American economy: a rising, thriving middle class. That’s what I think about every day. That’s the driving force behind every decision that I make.
And over the past three years, our businesses have created nearly 6.5 million new jobs. But we know we can help them create more. Corporate profits are at an all-time high. But we have to get wages and incomes rising, as well. Our deficits are falling at the fastest pace in years. But we can do more to bring them down in a balanced and responsible way.
The point is, our economy is poised for progress -- as long as Washington doesn’t get in the way. Frankly, the American people deserve better than what we’ve been seeing: a shortsighted, crisis-driven decision-making, like the reckless, across-the-board spending cuts that are already hurting a lot of communities out there -- cuts that economists predict will cost us hundreds of thousands of jobs during the course of this year.
If we want to keep rebuilding our economy on a stronger, more stable foundation, then we’ve got to get smarter about our priorities as a nation. And that’s what the budget I’m sending to Congress today represents -- a fiscally responsible blueprint for middle-class jobs and growth.
My budget also replaces the foolish across-the-board spending cuts that are already hurting our economy. And I have to point out that many of the same members of Congress who supported deep cuts are now the ones complaining about them the loudest as they hit their own communities. Of course, the people I feel for are the people who are directly feeling the pain of these cuts -- the people who can least afford it. They’re hurting military communities that have already sacrificed enough. They’re hurting middle-class families. There are children who have had to enter a lottery to determine which of them get to stay in their Head Start program with their friends. There are seniors who depend on programs like Meals on Wheels so they can live independently, but who are seeing their services cut.
That’s what this so-called sequester means. Some people may not have been impacted, but there are a lot of folks who are being increasingly impacted all across this country. And that's why my budget replaces these cuts with smarter ones, making long-term reforms, eliminating actual waste and programs we don’t need anymore.
Now, on the topic of deficits, despite all the noise in Washington, here’s a clear and unassailable fact: our deficits are already falling. Over the past two years, I’ve signed legislation that will reduce our deficits by more than $2.5 trillion -- more than two-thirds of it through spending cuts and the rest through asking the wealthiest Americans to begin paying their fair share.
That doesn’t mean we don't have more work to do. But here’s how we finish the job. My budget will reduce our deficits by nearly another $2 trillion, so that all told we will have surpassed the goal of $4 trillion in deficit reduction that independent economists believe we need to stabilize our finances. But it does so in a balanced and responsible way, a way that most Americans prefer.
Both parties, for example, agree that the rising cost of caring for an aging generation is the single biggest driver of our long-term deficits. And the truth is, for those like me who deeply believe in our social insurance programs, think it's one of the core things that our government needs to do, if we want to keep Medicare working as well as it has, if we want to preserve the ironclad guarantee that Medicare represents, then we’re going to have to make some changes. But they don't have to be drastic ones. And instead of making drastic ones later, what we should be doing is making some manageable ones now.
The reforms I’m proposing will strengthen Medicare for future generations without undermining that ironclad guarantee that Medicare represents. We’ll reduce our government’s Medicare bills by finding new ways to reduce the cost of health care -- not by shifting the costs to seniors or the poor or families with disabilities. They are reforms that keep the promise we’ve made to our seniors: basic security that is rock-solid and dependable, and there for you when you need it. That's what my budget represents.
My budget does also contain the compromise I offered Speaker Boehner at the end of last year, including reforms championed by Republican leaders in Congress. And I don’t believe that all these ideas are optimal, but I’m willing to accept them as part of a compromise -- if, and only if, they contain protections for the most vulnerable Americans.
But if we're serious about deficit reduction, then these reforms have to go hand-in-hand with reforming our tax code to make it more simple and more fair, so that the wealthiest individuals and biggest corporations cannot keep taking advantage of loopholes and deductions that most Americans don’t get. That's the bottom line.
If you're serious about deficit reduction, then there's no excuse to keep these loopholes open. They don't serve an economic purpose. They don't grow our economy. They don't put people back to work. All they do is to allow folks who are already well-off and well-connected game the system. If anyone thinks I’ll finish the job of deficit reduction on the backs of middle-class families or through spending cuts alone that actually hurt our economy short-term, they should think again.
DailyKos Blogathon -- Week of April 8th
(All times are Eastern, diaries published by the Pushing back at the Grand Bargain group)
Monday, April 8
10:00 a.m. Roger Fox
12:00 noon eXtina
2:00 p.m. Guest crosspost by Yves Smith
3:00 p.m. poopdogcomedy
4:00 p.m. Horace Boothroyd III
6:00 p.m. slinkerwink
8:00 p.m. joedemocrat
Tuesday, April 9
Wednesday, April 10
Thursday, April 11
Friday April 12
1. Call your senators and representatives and tell them "Hell No!" with a priority on contacting senators. U.S. Capitol Switchboard at (202) 224-3121. You can find email contact information here
2. Contact the White House and tell them "Hell No!". Switchboard: 202-456-1414. Email contact page is here.
3. Petitions. There are a number of petitions available. Choose from the following or preferably sign them all.
a. White House petition calling for no cuts to Social Security.
4. Social Media. Share this diary and promote this blogathon on Facebook and Google+ using the buttons at the top of the diary. Send this out on Twitter and add the hashtags #HellNo and #NoGrandBargain.
Blogathon diaries you might have missedMonday:
Hell No! #NoGrandBargain: "Pushing back at the Grand Bargain" by Roger Fox
Hell No! Chained CPI will reduce eligability for EITC #noChainedCPI by Roger Fox
Hell No! Dan Pfeiffer: "The President's Budget Shows That He is Serious About Solving Deficits" by eXtina
Guest Crosspost, Yves Smith: Obama Wants to Be the President Who Rolled Back the New Deal by Yves Smith via joanneleon
IA-Sen: Tom Harkin (D) Needs Our Help Telling Obama Hell No To The Chained CPI by poopdogcomedy
Hell No! Stop crushing the poor by Horace Boothroyd III
Hell, No! Social Security Contributes Nothing To Deficit by slinkerwink
Hell No! No Grand Bargain: Chained CPI: Social Security Means So Much To So Many by joedemocrat