Live blog of the president's address
April 13th, 2011
01:10 PM ET
3 years ago

Live blog of the president's address

Washington (CNN) - President Barack Obama entered politically tricky territory Wednesday when he outlined his plan for reducing long-term deficits and the national debt amid a climate of tense budget negotiations in a speech at The George Washington University. Follow the latest developments with below with the Ticker's live blog. Read the full story here.

3:40 p.m. ET - @BarackObama: There’s nothing serious about a plan that claims to reduce the deficit by spending $1 trillion on tax cuts for millionaires & billionaires.

3:21 p.m. ET - House Speaker John Boehner responded to the president's speech with a statement Wednesday: "Republicans, led by Chairman Ryan, have set the bar with a jobs budget that puts us on a path to paying down the debt and preserves Medicare and Medicaid for the future. This afternoon, I didn’t hear a plan to match it from the President," Boehner said. “He is asking Congress to raise the debt limit to continue paying Washington’s bills. The American people will not stand for that unless it is accompanied by serious action to reduce our deficit. More promises, hollow targets, and Washington commissions simply won’t get the job done."

2:39 p.m. ET - According to a pool report, Republican congressmen Dave Camp, R-Michigan, Paul Ryan, R-Wisconsin, and Jeb Hensarling, R-Texas, left G.W. together at same time, asking a policewoman outside for directions to 21st Street.

2:37 p.m. ET
– Obama referenced former President Lincoln once, former President George H.W. Bush twice, former President Clinton once, and former President Reagan twice. He did not utter President George W. Bush’s name one time.

2:35 p.m. ET @LisaDCNN: OBAMA DROPS "RADICAL": A CNN editor noted Obama took out "radical" when describing "the sort of steps" in GOP plan. (35 min into speech)

2:32 p.m. ET - Obama referenced a letter he received from a man from Florida who didn’t vote for him. He said the man told him he still believes the American dream is alive despite the intensity of the debate today. Obama said the man told him the country must use its dollars to rebuild and refurbish the country our ancestors left for us.

2:30 p.m. ET
– Obama said the current debate is about the size and role of government. He added that “it's not a bad thing” that debate has gotten more vigorous, but that America has always believed we can’t just think about ourselves but must think about our country and fellow citizens and what is required to pursue American dream for future generations.

2:29 p.m. ET - Obama called on Vice President Joe Biden to begin regular meetings with leaders in both parties of Congress to come to an agreement on a plan to reduce the deficit by the end of June. He said while he doesn’t think the final agreement will look exactly like the approach he pitched today, he is “eager to hear other ideas from all ends of the political spectrum.”

2:28 p.m. ET - Obama said the country has come together before to meet big challenges, citing former President Ronald Reagan and former Democratic House Speaker Tip O'Neill who came together to work on Social Security. He also referenced former President Bill Clinton and former President George H.W. Bush’s work with opposing parties in Congress. Still no specific mention in speech of former President George W. Bush.

2:26 p.m. ET
- Obama's message to those who think we shouldn't make any reforms to Medicare, Medicaid and Social Security: Then “we wont be able to keep our commitment” to the next generations of retirees, Obama said. And his pitch to progressives in his own party: “We have the obligation to prove that we can afford our commitments.” He said we must make government “smarter, leaner, and more effective.”

2:23 p.m. ET - Obama said there will be those who disagree with his call to raise taxes on the wealthiest of Americans. As he did in the 2008 campaign, he cited his friend billionaire Warren Buffett, who Obama said, “doesn’t need another tax cut.” He added that he believes “most wealthy Americans would agree with me.” He said they want to give back, but “Washington hasn’t asked them to.”

2:20 p.m. ET - Obama said step four of his plan is to reduce spending in the tax code. He said he agreed to extend the Bush tax cuts because it was the only way he “could prevent a tax hike for middle class Americans.” Today he said we can’t afford it. “I refuse to renew them again.”

2:19 p.m. ET
- Obama said he will preserve Medicare “as a promise we make” to each other in this society. He said Social Security faces challenges but is not the cause of the deficit, saying we must reform the program without affecting present retirees or "slashing benefits” for future generations.

2:17 p.m. ET - Obama said the third step of the plan is to further reduce health care spending in budget. He said the “difference could not be clearer” between his plan and the Republican plan. Obama said health care reforms already passed from his health care legislation would reduce $1 trillion from the deficit. He said we will change the way we pay for health care with new incentives for doctors and hospitals.


2:16 p.m. ET
– Obama said his second step is to find additional savings in the defense budget, and cited comments from the Chairman of the Joint Chiefs who said, “the greatest long-term threat to America’s national security is America’s debt.” Obama pledged to conduct a fundamental review of America’s missions, capabilities and role in a changing world.

2:13 p.m. ET - Twenty-five minutes into his speech, Obama addressed his proposal for “a more balanced approach to achieve $4 trillion in deficit reduction over twelve years.” He said the first step is to keep domestic spending low. “We will make tough cuts” necessary to make these savings, he said, adding that he will invest in new roads, education, job training and clean energy.

2:11 p.m. ET - In the last decade, Obama said the bottom 90 percent of Americans saw a decline while the top Americans saw an increase. Using himself as an example, he said it was not right for him to get a tax increase on the backs of 33 seniors each having to pay more for health costs to finance a tax cut for the wealthy.

2:10 p.m. ET – Obama said Medicare plans floated by the GOP mean Americans would pay $6,400 more if you need healthcare, ending "Medicare as we know it,” Obama said. He claimed 50 million Americans will be without health insurance if the Republican plan goes forward. These Americans, he said, will be left to “fend for themselves.”

2:09 p.m. ET – Obama cited China, South Korea, and Brazil as examples of nations that are investing in the future and said the United States is not.

“We are presented with a vision that says the United States of America – the greatest nation on Earth – can’t afford any of this,“ Obama said.

2:07 p.m. ET
@RepWeiner: why im not president. my version : "the gop plan is a disaster and ill chew my arm off before i sign it"

2:07 p.m. ET - 2012 reference: Obama noted one vision championed by Republicans and “embraced” by several Republican presidential candidates aims to reduce the deficit by $4 trillion over the next 10 years, and addresses challenges of Medicare and Medicaid.

“Those are both worthy goals for us to achieve," Obama said. But the way this plan achieves those goals would lead to a fundamentally different America than the one we’ve known throughout most of our history. “

2:05 p.m. ET - Obama said truth is that two thirds of the budget is spent on Medicare, Medicaid, Social Security and Defense. He said clean energy, education, the environment and other programs only account for 12 percent of the budget. Any serious plan will require America to put everything on the table and take on excessive spending, he said.


2:03 p.m. ET
- Obama said the good news is that a debt laden country doesn’t have to be our future. He said we can come together, but we need to be honest about the causes of the debt. Obama added that not all government spending is bad.

“Most Americans tend to dislike government spending in the abstract, but they like the stuff that it buys,” he said.

2:02 p.m. ET - Obama claimed by 2025, the amount of taxes we take in will only be enough to pay for health care, Social Security, and the interest we owe on our debt. “That’s it. Every other national priority – education, transportation, even national security – will have to be paid for with borrowed money.”

2:00 p.m. ET - Obama joked Biden is not young, like some of the G.W. students in the crowd.

1:59 p.m. ET - While Obama didn’t name former President George W. Bush by name, he managed to sneak in a reference, saying by the time he took office, the projected deficit was more than $1 trillion.

1:58 p.m. ET - @LisaDCNN: OBAMA PLAN – Social Security: From WH factsheet: “The president does not believe Social Security is in crisis…” Punt.

1:58 p.m ET @LisaDCNN: *OBAMA PLAN – Bush Tax Cuts: As he has said in the past, Pres. Obama wants to end the Bush tax cuts for incomes >$250K.

1:58 p.m. ET - Obama said America lost its way after the fiscal discipline of the 1990’s. He said we didn’t pay for new spending of two wars and tax cuts that forced us to borrow an average of $500 billion every year over next decade.

1:57 p.m. ET - Obama referenced former President George H.W. Bush and former President Bill Clinton by name, but not former President George W. Bush. “To meet this challenge, our leaders came together three times during the 1990s to reduce our nation’s deficit. They forged historic agreements that required tough decisions made by the first President Bush and President Clinton; by Democratic Congresses and a Republican Congress….. As a result of these bipartisan efforts, America’s finances were in great shape by the year 2000.”

1:57 p.m. ET - @RepWeiner: Somewhere Joe Wilson is yelling "You Lie!" over and over at his TV. President is doing great setting the debate.

1:55 p.m. ET - White House pool reported that Republican Rep. Paul Ryan of Wisconsin and Rep. Jeb Hensarling or Texas are seated in the front row next to Democratic Rep. Jan Schakowsky of Illinois.

1:55 p.m. ET - @LisaDCNN: OBAMA PLAN – Medicaid: Listen up, states. Pres.Obama would dump the many Medicaid match formulas now and give states one funding rate.

1:54 p.m. ET
- Obama said we recognize that hard times, illness or lost job may strike – “There but for the grace of God go I,” he said, before adding that Medicare and Social Security make the country better.

1:52 p.m. ET - Obama said that "this debate over budgets and deficits is about more than just numbers on a page, more than just cutting and spending. It's about the kind of future we want. It's about the kind of country we believe in."

1:49 p.m. ET - Obama started his serious speech with a joke: “It’s great to be back at G.W. I want you to know that one of the reasons I kept the government open was so I could be here today with all of you. I wanted to make sure you had one more excuse to skip class. You’re welcome.”

1:49 p.m. ET - @LisaDCNN: WHILE WE WAIT: I'm going thru embargoed text of the speech. I see first mention of Obama's proposal more than 1/2way through. #p2 #tcot

1:44 p.m. ET – Obama's motorcade arrived at G.W.

1:42 p.m. ET - @DanaBashCNN: @SpeakerBoehner suggested to reporters potus said he's open to debt ceiling vote that's not "clean" (w/ conditions) – as repubs want

1:36 p.m. ET @RepWeiner: Health care for the poor gets paid for one of 2 ways : efficiently or inefficiently. Slashing Medicaid only moves the cost.

1:23 p.m. ET
- @LisaDCNN: OBAMA DEFICIT speech: We expect it to be about 40-45 minutes. So pop the popcorn, pour the glass, now.

1:21 p.m. ET @franksesno RT @edhenrycnn: At obama speech. Simpson/Bowles here. Word is Prez will take "big bite" of commish recs tho will "lean left" a bit. Stay tuned.

1:21 p.m. ET @edhenrycnn: President will lay out plan w/ $4 trillion in deficit reduction in 12 yrs or less - speech coming at 130pm ET #devilindetails

1:19 p.m. ET - @RepWeiner: Lets review the bidding : Democrats proposed and created Medicare, Social Security and Medicaid. #GOPstillHatesEach

1:15 p.m. ET - @DanLothianCNN: Obama to set a goal of reducing the deficit by $4 trillion in 12 years or less, according to a snr admn.official.

1:14 p.m. ET– Among those expected to attend the speech Wednesday according to a pool report: Vice President Joe Biden, Treasury Secretary Timothy Geithner, Director of the Office of Management and Budget Jacob Lew, White House Chief of Staff Bill Daley and Chair of the National Economic Council Gene Sperling.

1:12 p.m. ET - @wolfblitzercnn: Obama wants to cut $4 trillion over 12 years; GOP wants $6 trillion over 10 years. Watch Obama speech 1:30PM ET #CNN

1:04 p.m. ET - Obama will set a goal of reducing the deficit by $4 trillion in 12 years or less in his speech Wednesday, according to a senior administration official, CNN White House Correspondent Dan Lothian reported.

1:00 p.m. ET @RepWeiner: I'm gonna livetweet during the President's budget remarks at 1:30 #OtherOptionIsTalkingBackToMyTV

12:53 p.m. ET @ChuckSchumer: @SpeakerBoehner should heed advice from business leaders, stop playing politics with debt ceiling. It’s playing with fire

12:32 p.m. ET - @LisaDCNN: I would like to thank the GOP for responding to the president's speech over an hour before he gives it.

12:23 p.m. ET - @LisaDCNN: NOW BOEHNER throws gauntlet: "Raising taxes will not be a part of it"... of dealing with the deficit. #p2 #teaparty #tcot

12:20 p.m. ET - @LisaDCNN: DEFICIT SHOWDOWN heats up: McConnell just drew a hard line, said "We will not be discussing raising taxes." Read: Bush tax cuts. #tcot #p2

11:58 a.m. ET - @SpeakerBoehner: By the #s: learn more about the largest spending cut since WWII http://j.mp/fdcfUK #jobs

11:57 a.m. ET - @RepWeiner: Looking at embargoed fact sheet on Potus plan. Not allowed to tell you about it yet. #ButMyHashtagLikesWhatHeSees

11:00 a.m. ET - President Barack Obama will call Wednesday for an end to the Bush-era tax cuts for Americans making over $250,000 annually, according to a senior administration official, CNN White House Correspondent Dan Lothian reported.

9:42 a.m. ET - On the Senate floor Wednesday, Senate Minority Leader Mitch McConnell, R-Kentucky, said: "The truth is the president is only entering this debate at all because he can no longer ignore the growing bipartisan calls for action. If he were serious he'd be talking about a detailed road map for action not just grabbing headlines by announcing another speech,. Of course we can hope that the president presents more than just his vision for the future this afternoon."


Filed under: Budget • President Obama
soundoff (325 Responses)
  1. sonia santiago

    I can not believe that the republicans think that we so stupid that we can not see right threw what their party is trying to do first of all notice how they want to cut everything for the poor and try to make it look like these are entitlement programs, but first let us look at why we needed entitlement programs because for years we were not able to have and education read or write so the gouverment had to become the watch dog and make sure that the poor and the minority has some kind of power or education . and now that the polls show that hispanics are the second biggest group in the good old USA now the republicans have to make sure they have all the power remember money and education is power cut education, social security and cut day care programs for the poor. they don't care they have money to educate their children with open up your eyes. years ago the klu kluz klan said they would take off there white robes educate themselves and go into politics wake up america we are going back obama stand and when you can't stand anymore stand God bless america

    April 13, 2011 03:25 pm at 3:25 pm |
  2. Donald from Toronto

    After listening to President Obama putting forward his plan to tackle the USA's financial dilema, I see a man who want to do good for the country. The Republican want to do good for the country also. Now can America leaders come together to solve the USA's looming financial crisis. The President's frame work to reduce the deficit and debt is a responsible way forward, in that, it put every area that contribute to the nation's economy on the table to responsibly look at. Rather than slash and cut in a hap-hazard manner, careful analysis need to be done of each area. Taking the necessary steps to improve the country's financial health should not be about politics with respect to seeing who can pander to the voters but rather, without concern about ones political career, should be about tackling a monster problem that will affect every USA citizen/legal resident in the near future. I will now wait and see if the leaders care about the citizens and the responsible companies that want to produce jobs and move the economy forward or about there political careers and lobbyists and their rich corporate clients who just want to take advantage of the tax code while shipping jobs to places like China and India and using the USA as a dumping ground for cheap good produce abroad. President Obama, the Democrats, the gang of six bipartisan Senators from the Senate, Congressman Paul Ryan and his Republican colleagues, the Debt commission and citizens through consultation have a wonderful opportunity to put The USA on the right fiscal path. Some folks will say that the President did not give specifics. I will say this, "One does not give specifics in a frame work document. The details are worked out during consultation while using the frame work as a guide." People! stop behaving ignorant to the conditions of the country's economic condition when the President took office. It was not something hidden. I think that many Americans have a McDonald fast food service style mentality. When one has cancer that is near malignancy, will require acute treatment and such treatment i.e. Chemotherapy hurts. Just the same, the economic conditions was of a severe cancerous state eating away at the nation's good finances. Some of the cancerous financial factor are: high entitlement cost, unnecessary spending in all areas including defence, the debt service payment and giving tax break to the wealthy including the President who does not want it. These need to be tackled responsibly. Do the leaders have the will. It is not just about tax to the wealthy or high entitlement cost. It is everything. So do something now before doing nothing do you all in. God bless USA the best country in the world after Canada.

    April 13, 2011 03:25 pm at 3:25 pm |
  3. Kelley C

    I listened to Obama's speech. It's ridiculous to think he can close the gap by taxing the rich. If you do the math, and he is quoting the top 1% of population how is this going to work? First of all what happened to the "line by line" budget reform he talked about when running for President? If a person needs to lose weight they cut their calories, up their activity, drink more water, cook their food differently..etc The budget needs to be cut and taxes raised. How about raising the taxes while getting rid of IRS all together? How about a flat tax for everyone? We get to keep what we make and get taxed on what we spend. It would get every man, woman, child, legal, illegal. It would also promote saving as well, create a healthy competition for consumer goods and promote jobs and fund the entitlements. This would also make everyone pay taxes that are not currently paying but living in our awesome country on the back of hard working Americans. It is my understanding that only 1/3 of taxpayers are funding America...wth?

    April 13, 2011 03:25 pm at 3:25 pm |
  4. robert maurice

    President Obama is using common sense approach on what 's needed in these issue's ...............Problem is we have people with a lack of common sense and self indulged trying to to show they have a better approach. If the general population think about the team instead "what is good it for me" then and only then can President Obama get things done.

    April 13, 2011 03:25 pm at 3:25 pm |
  5. GolfnutCO

    Medically retired/disabled since 1994, I am grateful for my Medicare and Social Security benefits. If I am asked to sacrifice for the financial well-being of my country, I'd say bump up the Medicare Part B deductible, which is $162 for 2011, say to $250. Approximate yearly savings could be close to $1 billion, small but savings nonetheless and not too burdensome, at least not for me. Also, "real" tax reform is an imperative. I've already written to Obama and suggested a hybrid flat-tax system which would close loopholes for corporations and individuals. The system would entail lower tax rates for all and a widening of the tax populace, or base. 46% of U.S. households paid no income tax in 2009...no wonder we have a deficit crisis.

    April 13, 2011 03:26 pm at 3:26 pm |
  6. Len

    The President is correct....The GOP only wants to protect the wealthy. Folks, when we are looking for funds for our family, we cut spending but at the same time try to raise revenue by someone in the family getting a job.

    Same premise: The upper 2% have benefitted for the last 10 years. Folks they donnot create jobs, this is individual taxes folks......they need to help. Do you realize, the US lost 1 trillion dollars in revenue because of the tax cuts. REMEMBER, this tax increase is for the UPPER 2%........the GOP, Tea Party, Fox News, and others will spin this in another direction.....please be educated and look around what is happening in the GOP run states....they are destroying the middle class and poor.

    They only want to benefit the oil, coal, and big businesses so GOP will get their pockets lined....PLEASE wake up!

    April 13, 2011 03:27 pm at 3:27 pm |
  7. This is Why We Love Our President Obama

    and why he will be a two-term president.

    Sorry, baggers, looks like you have to live your Ayn Rand fantasies in some other country.

    April 13, 2011 03:28 pm at 3:28 pm |
  8. Beverly

    When will people see McConnell, and his croonies for the destructionists they are? It is obvious that the president is willing to do what it takes to decrease the country's debt. Now it is time for the American people, including the media (CNN and Fox), to hold these Republicans accountable. You report bad news and lies on the President, why not report on the scams of the Republican Party.

    April 13, 2011 03:28 pm at 3:28 pm |
  9. leona

    Don't the American people pay enough attention? Obama first uttered the words "CUT the deficit" after his party got "shalacked" in November. His "debt talk" is solely designed for him to get re- elected. What will happen if he does get elected again? It will be back to "invest" in the future ( i.e. SPEND).

    April 13, 2011 03:28 pm at 3:28 pm |
  10. lisa

    I totally agree with increasing taxes on the wealthiest in this country. The millionaires AND the corporations making billions need to pay up. I believe that President Obama has his priorities correct and he needs to follow through and stop the tax cuts for the wealthy. The republicans in general are out to keep the wealthy rich. They also try to let big corporations pay no taxes. This is insane and unfair. I truly believe by rehauling and controlling health care costs by making changes to the payments insurance companies charge is a great idea. Health care costs are out of control. The strict review and assessments of how much hospitals charge and how much medical supplies cost should be carefully looked at. The cost for medications from Big Pharma are outrageous. Medications costing hundreds of dollars for a one month supply just equal price gouging to the public and also to the insurance companies. Price controls should be made for the Pharmaceutical companies making giant profits. The people who cannot afford the medications, what are they supposed to do? Republicans have shown absolutely no concern for the middle and lower class poor. It is shameful! President Obama has excellent ideas and I hope all of them will be utilized. President Obama cares about the American people and this country. As President Obama had initially stated he would tax those making 250,000 and greater with higher taxes. Now is the time to do so. This pathetic Republican pandering to the wealthy is just sickening. They only accomodate Big Oil, Big executives making millions, Big Pharma, and the mistake of bailing out the banks and Wall street which has made the rest of the country poor. President Obama does not need to bail out investment corporations or banks because the interest rates the banks are now charging are through the roof. The banks stay rich, executives stay rich, corporations stay rich and the rest of us are stuck between a rock and a hard place. Increase taxes on the wealth no matter what the objections are, President Obama please stand your ground, even with threats by the Republicans. You need to do what you need to do as the American people have voted you in to do exactly what you have promised. America needs to stop catering to the wealthy and their monopolies they have created. I agree use the scalpel not the machete to cut the budget. We need medicare, medicaid and social security to remain as they are except to cut anything redundant or any fraud committed by those giving services who exploit the system. Americans are going broke, jobs are scarce, and it is unfair to cut scholarships for those students who rely on this for their further education. Our children deserve to be able to attend college. Pell grants and other financial aid is critical for college students, but the colleges and universities also have skyrocketed their tuition and fees. There does not seem to be enough oversight of these costs. Finally the crucial environmental protection agency should not have its budget cut. We need this important agency until the superfund sights are cleaned up. People are stuck living near contaminated areas which could lead to cancer, so the EPA needs to continue monitoring the clean up of the sites.

    April 13, 2011 03:29 pm at 3:29 pm |
  11. Jo Ann

    Maybe if the President stopped spending our money taking vacations (that we can't afford) and business (campaigning) trips and started staying home in the White house consentration on solutions to the many problems of America and maybe if the congress and the senate started cutting back on their expenses, stopped all unnecessary travel started living up to their campaign promises and had to deal with the same medical insurance plans as the average American, live on the same social security and medical benefits as seniors do. I think you could easily find a trillion dollars there!

    April 13, 2011 03:30 pm at 3:30 pm |
  12. lu

    Good – I'm glad he made this speech – this is what he has been saying about fixing the debt problem since he first began campaigning for president – unfortunately, the economic crisis caused a delay do to the fat that large cuts or tax increases are not advised in a recession.

    We have to both cut and raise more revenue – after all it is both spending increases and tax cuts are got us to this point in the first place –

    The debt has been exploding for over 30 years – The largest percent increases debt to GDP and decreases in revenue to GDP happened over the Bush 2 and Reagan years with their huge tax cuts.-

    Data clearly shows that the idea that tax cuts are offset by increased revenue due to increases in GDP is simply a flat out lie and a myth that some like to spread to achieve their agenda – revenue to GDP fell in the Bush 2 and Reagan years a great deal – Reagan nearly tripled the national debt and Bush 2 doubled it – these years reflected the largest percentage increases in the debt.

    At least when Reagan realized what his enormous tax cuts were doing to the debt he instituted one of the largest tax increases in history – but it was not enough to offset all the cuts. Even Bush 1 who had campaigned "no new taxes" – also had to raise them when he looked at the data – but they still taxes remained lower than they were prior to Reagan.

    Clinton forced both parties to get real with taxes and spending – but sadly this was short lived

    The thuth is that some have been spinning a dangerous myth about taxes for decades – (that increased revenue from increased growth somehow offsets revenue decreases) but this has never been true the muliplier effect for tax cuts for the wealthy is only about 1.16 – It is like saying if we spend a dollar in tax cuts we will get back 2/10ths of a penny in increased revenue – not a good deal –

    The bottom line is that tax cuts do increase the debt and add to deficit spending -a great deal – the real numbers support this

    April 13, 2011 03:31 pm at 3:31 pm |
  13. Jade

    I think the President made some very valid points. However, i do not think that he emphasized the seriousness of what is happening to our economy. I was hoping he might say something more aggressive. something to really let people know how broke America really is. We can't even pay the interest on our debt. let alone the debt itself. i was hoping he'd say. no more importing! lots of exporting! more production! not just what i was already expecting.

    April 13, 2011 03:33 pm at 3:33 pm |
  14. shawn maxwell

    he hit all the points, why should the poor and the middle class pay more then the wealthy. awesome speech

    April 13, 2011 03:34 pm at 3:34 pm |
  15. James

    The President put a human face on the budget and the effects of the GOP plan on Americans. After waiting for the GOP to show their hand, he laid out his position, taking off the gloves and reminding us that our current debt troubles go back to Readan era deregulation and that the previous administration inherits a surplus and left the Obama presidency with our current deficit. After stating his commitment to keeping medicare, his opponent in the next elections now gets to defend dismantling it.

    April 13, 2011 03:35 pm at 3:35 pm |
  16. ron

    tax the rich is only going to cost more jobs that we dont have. besides the rich deserve just like the rest of us to keep their money and use it for what they want.Obama an dems only answer to anything,is raise taxes,force mandates,spend ,spend ,spend,rob from the rich and give to the poor. they want to be the ones giving to the poor ,while they give no money of their own,only our tax payers money,who have to work for it. how much more tax can we give ,do we need to give the government our whole pay check and they decide what we can have back ? believe this is got to change , hopefully 2012.

    April 13, 2011 03:35 pm at 3:35 pm |
  17. Jack Richmond

    Obama has now given the media an example of how to discuss this country's financial situation in a balanced way. Plleeeaase...media!...no more half-baked "news" stories with predictably lop-sided GOP blather, broadcasting to the rest of the world that we have such ignorant, narrow-minded people entrenched at top levels in our government. Enough dirty laundry already!

    April 13, 2011 03:36 pm at 3:36 pm |
  18. lu

    Good – I'm glad he made this speech – this is what he has been saying about fixing the debt problem since he first began campaigning for president – unfortunately, the economic crisis caused a delay do to the fat that large cuts or tax increases are not advised in a recession.

    We have to both cut and raise more revenue – after all it is both spending increases and tax cuts are got us to this point in the first place –

    The debt has been exploding for over 30 years – The largest percent increases debt to GDP and decreases in revenue to GDP happened over the Bush 2 and Reagan years with their huge tax cuts.-

    Data clearly shows that the idea that tax cuts are offset by increased revenue due to increases in GDP is simply a flat out lie and a myth that some like to spread to achieve their agenda – revenue to GDP fell in the Bush 2 and Reagan years a great deal – Reagan nearly tripled the national debt and Bush 2 doubled it – these years reflected the largest percentage increases in the debt.

    At least when Reagan realized what his enormous tax cuts were doing to the debt he instituted one of the largest tax increases in history – but it was not enough to offset all the cuts. Even Bush 1 who had campaigned "no new taxes" – also had to raise them when he looked at the data – but they still taxes remained lower than they were prior to Reagan.

    Clinton forced both parties to get real with taxes and spending – but sadly this was short lived

    The thuth is that some have been spinning a dangerous myth about taxes for decades – (that increased revenue from increased growth somehow offsets tax cuts) but this has never been true the muliplier effect for tax cuts for the wealthy is only about 1.16 – It is like saying if we spend a dollar in tax cuts we will get back 2/10ths of a penny in increased revenue – not a good deal –

    The bottom line is that tax cuts do increase the debt and add to deficit spending -a great deal – the real numbers support this

    April 13, 2011 03:36 pm at 3:36 pm |
  19. RW

    Obama says the plan is to pay 4 trillion dollars of our debt in 12 years. The republicans just gave the wealthy a 1 trillion dollars a year in tax breaks, while the rest of us are being squeezed more and more each year. Face it, the republicans are no friends of the elderly, the poor and the shrinking middle class.

    April 13, 2011 03:36 pm at 3:36 pm |
  20. Dolly

    Does anyone have a record of how many Speeches this man has made in his over two years in that office. It seems to me he is on MY TV at least once or twice a day spouting what he has or is going to do. I wonder, quite often, if he knows what he is saying. We know it is written down by SOMEONE ELSE and it doesn't seem as though he has read his speech before telling it to us. We need someone who can speak without teleprompters, say the words truthfully and can lead our country.

    April 13, 2011 03:38 pm at 3:38 pm |
  21. Jerry Leonard

    I'm really glad that he made strong statements not allowing the underpriviledged and less fortunate not having to bear the brunt of the current deficit. It seems as though the Republicans are not happy with the thought of paying their fair share. John Stossel points out, and correctly so, that the rich are the biggest freeloaders by far. Also, John Boehner says that, " That WILL NOT be part of the discussion." Well Mister..just maybe it WILL be. Like my Dad always said, "Big Mouth don't make a big man Son." an he's sure got a mouth big enough for 2 sets of teeth. He needs a hammer... somebody ought to give him a hammer so he can beat his head back down to a size he can manage to get a regular mans hat on.

    April 13, 2011 03:38 pm at 3:38 pm |
  22. charles hughes

    The President is spot on in his pragmatic approach to solving our budgetary problems especially when he would deny extending tax cuts to the wealthy. Those who have more can give more. I am on Social Security and Ryan scares me when he talks of his plans to privatize it. In general if you ask me the Republicans are full of it!

    April 13, 2011 03:39 pm at 3:39 pm |
  23. MJB

    So theres 3 million jobs. Where are they. I'm in Ariz and need a partime job. NADA!!!!!!!!!!!

    April 13, 2011 03:41 pm at 3:41 pm |
  24. kumar

    Mr. President where are the specifics? Soaring rhetoric doesn't cut any spending. No specifics on Medicare cuts, no specifics on defense cuts – both are "in planning". What have you been doing for two years. Time to get serious and behave like a real chief executive instead of a law professor.

    April 13, 2011 03:41 pm at 3:41 pm |
  25. Navy Officer

    ...God forgive me...I CANNOT Stand even Looking at Obama anymore...Lies..Lies..Lies.. from this Slick Used camel salesman...All words written by Radical Socialist..he could care Less about Anything..except being elected..taking bribes to do so..and sports and vacations...my stomach turns over with how he and cronies are Destroying the Greatest Nation ,,God ever Created..other than Israel...May God Deliver us..Return to God America..On your Knees and Pray for Forgiveness for Turning against Him..and..Embracing Evil...He Will Forgive and Heal America...Otherwise we are Doomed...

    April 13, 2011 03:43 pm at 3:43 pm |
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