In case you did not see President Barack Obama’s speech today on federal budget reduction and spending priorities, here it is.
You Tube Video Of President Obama’s April 13 Speech on Spending and Deficit Reduction
Some excerpts from President Obama’s speech:
… From our first days as a nation, we have put our faith in free markets and free enterprise as the engine of Americas wealth and prosperity. More than citizens of any other country, we are rugged individualists, a self-reliant people with a healthy skepticism of too much government.But theres always been another thread running through our history – a belief that were all connected, and that there are some things we can only do together, as a nation. We believe, in the words of our first Republican President, Abraham Lincoln, that through government, we should do together what we cannot do as well for ourselves.And so weve built a strong military to keep us secure, and public schools and universities to educate our citizens. Weve laid down railroads and highways to facilitate travel and commerce. Weve supported the work of scientists and researchers whose discoveries have saved lives, unleashed repeated technological revolutions, and led to countless new jobs and entire new industries. Each of us has benefitted from these investments, and were a more prosperous country as a result. Part of this American belief that were all connected also expresses itself in a conviction that each one of us deserves some basic measure of security and dignity. We recognize that no matter how responsibly we live our lives, hard times or bad luck, a crippling illness or a layoff may strike any one of us. There but for the grace of God go I, we say to ourselves. And so we contribute to programs like Medicare and Social Security, which guarantee us health care and a measure of basic income after a lifetime of hard work; unemployment insurance, which protects us against unexpected job loss; and Medicaid, which provides care for millions of seniors in nursing homes, poor children, those with disabilities. Were a better country because of these commitments. Ill go further. We would not be a great country without those commitments.Now, for much of the last century, our nation found a way to afford these investments and priorities with the taxes paid by its citizens. As a country that values fairness, wealthier individuals have traditionally borne a greater share of this burden than the middle class or those less fortunate. Everybody pays, but the wealthier have borne a little more. This is not because we begrudge those whove done well – we rightly celebrate their success. Instead, its a basic reflection of our belief that those whove benefited most from our way of life can afford to give back a little bit more. Moreover, this belief hasnt hindered the success of those at the top of the income scale. They continue to do better and better with each passing year….
and:
… But that starts by being honest about whats causing our deficit. You see, most Americans tend to dislike government spending in the abstract, but like the stuff that it buys. Most of us, regardless of party affiliation, believe that we should have a strong military and a strong defense. Most Americans believe we should invest in education and medical research. Most Americans think we should protect commitments like Social Security and Medicare. And without even looking at a poll, my finely honed political instincts tell me that almost nobody believes they should be paying higher taxes. (Laughter.)
So because all this spending is popular with both Republicans and Democrats alike, and because nobody wants to pay higher taxes, politicians are often eager to feed the impression that solving the problem is just a matter of eliminating waste and abuse. Youll hear that phrase a lot. We just need to eliminate waste and abuse. The implication is that tackling the deficit issue wont require tough choices. Or politicians suggest that we can somehow close our entire deficit by eliminating things like foreign aid, even though foreign aid makes up about 1 percent of our entire federal budget.So heres the truth. Around two-thirds of our budget — two-thirds — is spent on Medicare, Medicaid, Social Security, and national security. Two-thirds. Programs like unemployment insurance, student loans, veterans benefits, and tax credits for working families take up another 20 percent. Whats left, after interest on the debt, is just 12 percent for everything else. Thats 12 percent for all of our national priorities — education, clean energy, medical research, transportation, our national parks, food safety, keeping our air and water clean — you name it — all of that accounts for 12 percent of our budget.Now, up till now, the debate here in Washington, the cuts proposed by a lot of folks in Washington, have focused exclusively on that 12 percent. But cuts to that 12 percent alone wont solve the problem. So any serious plan to tackle our deficit will require us to put everything on the table, and take on excess spending wherever it exists in the budget.A serious plan doesnt require us to balance our budget overnight – in fact, economists think that with the economy just starting to grow again, we need a phased-in approach – but it does require tough decisions and support from our leaders in both parties now. Above all, it will require us to choose a vision of the America we want to see five years, 10 years, 20 years down the road….
The closing remarks of President Obama’s speech:
… This larger debate that were having — this larger debate about the size and the role of government — it has been with us since our founding days. And during moments of great challenge and change, like the one that were living through now, the debate gets sharper and it gets more vigorous. Thats not a bad thing. In fact, its a good thing. As a country that prizes both our individual freedom and our obligations to one another, this is one of the most important debates that we can have.But no matter what we argue, no matter where we stand, weve always held certain beliefs as Americans. We believe that in order to preserve our own freedoms and pursue our own happiness, we cant just think about ourselves. We have to think about the country that made these liberties possible. We have to think about our fellow citizens with whom we share a community. And we have to think about whats required to preserve the American Dream for future generations.This sense of responsibility — to each other and to our country — this isnt a partisan feeling. It isnt a Democratic or a Republican idea. Its patriotism.The other day I received a letter from a man in Florida. He started off by telling me he didnt vote for me and he hasnt always agreed with me. But even though hes worried about our economy and the state of our politics — heres what he said — he said, I still believe. I believe in that great country that my grandfather told me about. I believe that somewhere lost in this quagmire of petty bickering on every news station, the American Dream is still aliveWe need to use our dollars here rebuilding, refurbishing and restoring all that our ancestors struggled to create and maintain We as a people must do this together, no matter the color of the state one comes from or the side of the aisle one might sit on.I still believe. I still believe as well. And I know that if we can come together and uphold our responsibilities to one another and to this larger enterprise that is America, we will keep the dream of our founding alive — in our time; and we will pass it on to our children. We will pass on to our children a country that we believe in.Thank you. God bless you, and may God bless the United States of America.
The full text of President Obama’s speech and fact sheet. Republican Congressman Paul Ryan , Chairman of the House Budget Committee responds to President Obama’s speech. Commentary on the speech from Andrew Sullivan’s Daily Dish