February 24th, 2009
10:01 PM ET
5 years ago

$2 trillion in budget cuts identified, Obama says

President Obama said Tuesday that his administration has identified $2 trillion in government spending cuts that can be made over the next decade.
President Obama said Tuesday that his administration has identified $2 trillion in government spending cuts that can be made over the next decade.

WASHINGTON (CNN) – President Obama said Tuesday that his administration has identified $2 trillion in government spending cuts that can be made over the next decade.

Speaking in his first address to a joint session of Congress, Obama said the cuts were identified as his staff has gone "line by line" over the federal budget, with a goal of cutting the federal deficit in half by the end of his first term.

"In this budget, we will end education programs that don't work and end direct payments to large agribusinesses that don't need them," Obama said.

Watch: Obama lays out budget goals

"We'll eliminate the no-bid contracts that have wasted billions in Iraq, and reform our defense budget so that we're not paying for Cold War-era weapons systems we don't use."

He also said he will target waste, fraud and abuse in the Medicare system and "restore fairness and balance" to the tax code.


Filed under: Obama address
soundoff (42 Responses)
  1. catmom

    See, this is why Barack Hussein Obama was elected President of the United States of America !

    February 24, 2009 10:03 pm at 10:03 pm |
  2. Question

    McCain where is Osama???? You said during your presidential run that you knew where Osama was and how to catch him. We are waiting!!!!!

    February 24, 2009 10:04 pm at 10:04 pm |
  3. Lindsay

    What I want to know is why it took our government so long to do this in the first place.

    February 24, 2009 10:04 pm at 10:04 pm |
  4. Bryan

    This is a bowl of Lucky Charms Obama is pouring filled with rainbows and unicorns with little reality-based thinking.

    February 24, 2009 10:05 pm at 10:05 pm |
  5. Penn Voter

    There is no way that he will rein in the Democrat controled "spend happy" Congress. He could not do it for the Simulation Bill and he will not do it for future budgets.

    February 24, 2009 10:08 pm at 10:08 pm |
  6. richard

    This is why I voted for the guy.

    February 24, 2009 10:10 pm at 10:10 pm |
  7. Ula Nejad Sacramento, Ca

    Okay enough of the theater. The country is now moving into the third phase and the most important where all factors will test his ability to carry out his promises in controlling the deficit and peace.

    February 24, 2009 10:11 pm at 10:11 pm |
  8. Chuck

    We could send Pelosi to Walmart for her wardrobe and probably save millions.

    February 24, 2009 10:12 pm at 10:12 pm |
  9. Doug

    As an O democrat, it was a typical democratic speech. The hope is still present but the change has only been in unifying the democratic party. We need to go forward together to unite the country.

    February 24, 2009 10:14 pm at 10:14 pm |
  10. CHANGE we need

    Line by line over the budget, but not a glance at the 1,100 pages of a pork filled stimulus?? Read 'we got what we wanted, now time to cut what we didnt want...'. Thanks, BO.

    February 24, 2009 10:19 pm at 10:19 pm |
  11. Obama - NOPE

    "I have not yet begun to spend !" – B. Obama

    February 24, 2009 10:22 pm at 10:22 pm |
  12. George

    No one can deny he is atleast trying ... unlike the Republicans who claim to want to work with the president but really mean will only agree with ideas they want – like giving money to their blood sucking billionaire friends.

    Where was the republicans "outrage" when bUSH and cHENEY "the Lord Sith" spent us into the hole we are in now – for a war they lied about to get us into?

    February 24, 2009 10:22 pm at 10:22 pm |
  13. ineedmychange

    I hope Pelos was listing about "wastefu;l" spending and she and her co-horts don't plan on wasting anymore Taxpayer money on political junkets!!!!!!! Also they need to seel the Luxury Airplaines congr4ess uses and as Obama stated his helicopter he has now is fine; he doesn't need any new ones!!!!
    My biggest concern is contractor who will overcharge and overinflate the cost of projects that would create jobs. More often than not their private wealth increases while the number of jobs created is minimal or they hire illegals
    It's about time someone put their foot down for companies that move jobs offshore and get the benefit of write-offs; also that get government contractsand move the jobs offshore.

    I am more inspired by our President but when I looked around Congress I got really depressed because they all have their OWN PERSONAL AGENDA or THEY OWE SOMEBODY and that usually does not mean us, the voters.

    February 24, 2009 10:23 pm at 10:23 pm |
  14. ineedmychange

    Gov Ja is a grandstander. he is already running for office instead of taking care of his state which is still in need of recovering from Katrina. Tell him to shut up and deal with his state's problems.

    February 24, 2009 10:25 pm at 10:25 pm |
  15. Independant Vet

    FOR STARTERS , HE SHOULD OF STATED , TO PELOSI , STARTING TO MORROW , ALL WE WILL PAY FOR YOUR TRIPS BACK AND FORTH TWICE A WEEK IS ON A GREYHOUND. THAT BIG JET AT $60,000 EACH WAY IS COMING TO A HALT. THAT ALONE WOULD SAVE THE TAX [PAYERS $5,760,000 ANNUALY.

    NEXT ACORN , IS LEFT OUT . WE ALL KNOW THAT WOULD NEVER COME ABOUT , FOR THEY ARE THE ONES THAT BOUGHT THE WHITE HOUSE FOR HIM .

    REMEMBER WHEN THEY TOLD THE AUTO MAKERS TO STOP FLYING.

    PRATICE WHAT YOU PREACH. .

    February 24, 2009 10:25 pm at 10:25 pm |
  16. Proud American

    Redpublicans are complete Morons. America could see a real cost savings if we abolish the entire party.

    February 24, 2009 10:28 pm at 10:28 pm |
  17. Matthew, Detroit

    SO

    HE IS GOING TO SPEND 1.3 Trillion OVER budget each year.

    But in 10 years he will cut 2 Trillion. Wow. Do the math Barack.

    You are going to add 4.6 Trillion to the national debt in 4 short years.
    But in 10 years you are going to find 2 trillion in savings.

    Your rhetoric is a joke. ADMIT what you are. Admit your SOCIALIST agenda. Raise taxes. Increase spending. I thought President BUSH was bad when it came to 5 Trillion in 8 years, THIS guy is even worse.

    February 24, 2009 10:28 pm at 10:28 pm |
  18. aliou FL

    THank you Mr. President. We are 100% behind you. And if you need us any time, call us, and we would tell republicans who exactly got us into this mess.

    February 24, 2009 10:30 pm at 10:30 pm |
  19. Teresita Rousseau

    My father's auto parts manufacturing company has survived for 43 years, one of the first owned African American companies of this kind. After my father's death in 2005, my brother took over and my husband continued to work for the company until now. Now, my brother laid off my husband and the company my father left to my brother is on the brink of collapse due to the serious problems in the auto industry. Never before would I have ever thought this economic crisis would present itself on my family's doorsteps. I pray that Obama's economic plan brings prosperity back to our nation. While some may criticize him, I salute him for at least taking action and not standing by and doing nothing.

    February 24, 2009 10:34 pm at 10:34 pm |
  20. bert

    Awesome, keep up the great work!

    February 24, 2009 10:35 pm at 10:35 pm |
  21. Mari

    AMAZING. But what was REALLY amazing IS that FINALLY the American public will KNOW WHAT THE COST OF THE IRAQ WAR HAS AND IS COSTING............ WHY DID BUSH HIDE IT?????????????????

    February 24, 2009 10:36 pm at 10:36 pm |
  22. Harley

    Obama Says Allot But Does Not Give Details, He says He Is Going To Cut Spending, And He Spent More Money Than Any Other Pres. He Says He Is Going To Change Washington Yet He hairs Tax Cheaters And People That Hide Money In The Freezer. Well With A Dem. Majority In The House And Sen. They Feel That They Can Get Away With Everything !!! But They Can' t Blame The Republican's

    February 24, 2009 10:37 pm at 10:37 pm |
  23. New Yorker

    If Obama cuts military spending, as he plans, he will be responsible for its inadequacies just as Clinton was for reducing their capabilities.

    February 24, 2009 10:39 pm at 10:39 pm |
  24. Typical White Person

    "Fairness and balance to the tax code"... that means there will be a flat tax that EVERYONE pays, right?

    No, it means he plans to increase taxes on everyone making over 50K and give money to everyone making nothing so they can continue to sit on the fat butts and make nothing, do nothing, contribute nothing...

    February 24, 2009 10:41 pm at 10:41 pm |
  25. Ed

    This Veteran stands with you Mr.President!

    February 24, 2009 10:47 pm at 10:47 pm |
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