(CNN)-President Obama proclaimed "good news for the American people" in his weekly address Saturday when he stated that the agreement reached by Republicans and Democrats would "avert a government shutdown, cut spending, and invest in our future."
The president explained that the agreement, made in the late hours of Friday and reached before the last spending agreement expired, meant that "small businesses can get the loans they need," "families can get the mortgages they applied for," "folks can visit our national parks and museums" and paychecks, including those for the military, will be delivered on time.
"This is an agreement to invest in our country's future while making the largest annual spending cut in our history," he said.
Obama advised that the agreed-upon $38.5 billion in spending cuts will be "painful" and relied-upon programs will be cut back while infrastructure projects will be delayed. But, he said, "beginning to live within our means is the only way to protect the investments that will help America compete for new jobs," as well as invest in education, student loans, and medical research.
Comparing spending cuts to sacrifices that families make in tough times, the president said that "reducing spending while still investing in the future is just common sense."
And he praised bipartisan cooperation that led to the agreement.
"That's what the American people expect us to do," said Obama. "And it's what the American people deserve."
"It's no secret our government has a spending problem," House Budget Committee Chair Paul Ryan said, as he used the GOP weekly address to outline "The Path to Prosperity," a plan introduced by the House Budget Committee that calls for $6.2 trillion in spending cuts over the next ten years.
Ryan also trumpeted "the largest spending cut in American history," calling the budget agreement made late Friday night "good news for job creators in America." Still, he said, "more has to be done to put our nation on a true path to prosperity."
And the plan proposed by the House Budget Committee will "move the debate in Washington from billions in spending cuts to trillions," Ryan said.
The seven-term congressman from Wisconsin explained motivation behind the "Path to Prosperity" budget, saying, "it is unconscionable to leave the next generation with a crushing burden of debt and a nation in decline."
Calling the House Budget Committee plan a "jobs budget" that advances "pro-growth tax reforms," Ryan warned that "Washington has not been telling you the truth about the magnitude of the problems we are facing…If we stay on the current path, we are heading toward a debt-fueled economic crisis."
To avoid "government spending on health and retirement programs" that "will crowd out spending on everything else," Ryan said his proposed budget will keep government spending "consistent with the historical average of 20 percent," and "keep borrowing in check."
"This Path to Prosperity lifts this crushing burden of debt that is threatening our economy and our children's future," said Ryan.
"We have a legacy to fulfill. It is time for all of us to get to work, put an end to the empty promises, and advance a plan to prosperity."
If the decision had been left to Newt Gingrich and the tea baggers, government would have shutdown, that's exactly what they wanted. Newt was the first to call for a shutdown because he hoped it would change his own legacy at the expense of Boehner and the American people, didn't work. Why would any Republican support Newt when he wanted to throw them under the bus without even mentioning all his marital affairs, he's a slimeball.
Thanks Mr. President for "Saving the Country Again" from Gop Pandering for votes! Thank you for helping our brave troops families "To recieve their "Pay Checks"? The Gop,and specially "Tea" wanted to "Crash" our troops families,and hundreds of thousands of working people,for Abortions issues? What a "Horrible thing" that we have Americans who believe in such "TRIPP" Thanks Again!
Obama banks are not making loans and people can't visit parks because they can't afford the gas and don't have jobs.
my dear Obbie, you are doing great job....keep it up....I shall vote for you in 2012 even heavens fall.....that's it.....just watch these GOP thugs, idiots, and gundaas........
All this fool knows how to do is spend. Thank God the Republicans held firm. Can't wait for 2012.
Who dare denie our small businessmen the ability to get loan does not all business started out small and we have the best business mine in the world with help from and incurse by our government it a win win for we the people America.
Thank you Mr. President. The Republicans are letting the tea party throw hard working Americans under the bus or should I say under the subway.
Hope everyone remembers that the GOP was ready to shut down the government over their abortion ideaology (defunding Planned Parenthood which provides a large portion of the birth control in our country and only 3% of its services are actually abortions - unbelieveable that the GOP who are so against abortion would take away access to birth control from so many people as fewer unplanned pregnancies = fewer abortions). Hope everyone remembers that President Obama has shown over and over again that he is the one open to compromise and doing what is best for the country instead of stubbornly sticking to extreme ideaological bents. The only reason the GOP gave in at the end was because they were afraid they would get blamed for causing the shutdown. They should be blamed for their extremism and for coming so close to causing a shutdown. Remember to vote Democrat in 2012 to restore some sanity to our government.
President Obama you are our hero!!!!
I pray for our politicians especially our President.
It is very telling when people vilify President Obama no matters what happens in this country isn't it, Gaylon? He is damned if he does and damned if he doesn't.
Onward and upward, Mr. President.
I really can't believe the people on these boards who are so ignorant to the real budget crisis. These last cuts are a drop in the bucket. The CBO has done the projections and unless we substantially fix our spending, we'll be running our interest at approximately 70% of the GDP in 2021, which to us is 10 years away. But look at the amount of Mandatory Spending (55%)...unless we fix it, we'll be bankrupting our children's future. We can fix it, but we really need to decide what we need versus what we want.
i am glad that obama stuck it out. the repubs just want to keep taking away from the poor so that the middle class has to take care of them through higher taxes. this all backfired on the speaker of the house.
Good news are you kidding. The cuts should have been larger. Start drilling in this country where there is actual oil; get off coal's back and bring jobs back to the US instead of spending our money to help Brazil and other countries develop their oil fields. Get ready people; the economy is going to tank again and tank big time. High energy prices killed us the first time and will do it again. Congress and the while house both need new people; I don't care what party they are; vote them out.
Ok but we are still nowhere near balancing the budget. What are the next steps. Let's stop the games and illusions that we can not touch the sacred cow of Defense and Security spending.
Please folks – learn the facts. We ran up the credit card on OUT OF CONTROL defense and security spending at the hands of President Bush. That along with the tax cuts are the real reasons why we went from surplus to epic disaster.
Grow a spine Republicans and stop pretending you can't touch defense and security. The Dem's can't do it because your party perpetually plays the fear-mongering game to attack liberals when they try to cut those items.
Obama didnt do too badly. Its the TP/repubs who cant do math and actually got bent over. The $70+billion in cuts is from Obama's PROPOSED budget,ya know the one that makes him a huge spender that never got passed? That horrible scary black man is running this country in the ground and gonna make us all live in the ghetto cuz hes a Chicago thug! Egads! BTW-Presidents always ask for the moon-all good negotiators do at the beginning of a negotiation. The actual cuts really amount to $33.5 billion. So much for the $100bil they originally wanted. But keep on screaming about $300million Planned Parenthood. The repugs distracted the repugs. Have you realized that yet? Pretty sure Boehner played all of you. If we were orig at $1.6 trillion in deficit,where are we now? $1.5 trillion? Huge difference-not. All that drama about overspending by Obama our worst prez ever? Really? Let Fox keep feeding you soundbites. You will apparently believe whatever they tell you.
Oops 38.5 not 33.5 bil
Well done, President Obama!
How many tax cuts are in Paul Ryan's new budget? Are the cuts he is proposing going to go right into the pockets of the uber wealthy ( again )? Why is it they never have had to sacrafice a thing the past 30 yrs? The Bush tax cuts did nothing to create jobs ( see WSJ article about Bush worst jobs creation on record ) and yet we are to believe that if we cut the corporate tax rate back to near nothing, and give wealthy individuals more tax cuts, take away social spending or programs that the middle class and poor need to make their lives better, that our economy will roar? There will be no more middle class, and the tea party like that just fine..Thing is, our founding fathers created a document to prevent a feudal society, and yet, the tea party has been hoodwinked by the powers that be, into the very feudal system our founding fathers hated.
The budget fight was mostly a draw, but Obama has the edge on balance, because he gets credit for making the deal.
People need to remember that President Obama was the one that was willing to compromise and do what was best for the country even if it was not his preference. The GOP on the other hand almost closed down the government because of their anti-abortion ideaology and kept insisting on short-sighted cuts that will cause us to fall back into a recession.
Ryan's "plan" is nothing more than rehashed talking points echoing past proven policy failures from the Rand/Friedman cult of corrupt crony capitalism. Those polcies NEVER worked and never will. The fact that so-called "smart" members of the GOBP continue to spout this discredited nonsense (deregulation, tax cuts for the filthy rich, etc) shows how truly bankrupt the party had become when it comes to developing actual policies that will help average Americans.
The writing is on the wall. The Republicans/Tea Baggers are out to destroy this country and the media stands ideally by and spin the truth. When will the media report the facts so that illiterate people can understand? The Republicans are the party of destructions and there are ignorant people such as Gaylon Barron who continues to speak ill of the president. He had better be happy that there is someone who is will to fight for the common people. Barron why aren't you complaining about McConnell support for the top richest people in America, or the politicians who want to privatize Social Security, and out Medicaid and Medicare. Let's hope you or a family member never need help.