Tuesday, March 24, 2009

Live: Obama Press Conference on the Budget

Hit play. From the pre-released excerpts:

The budget I submitted to Congress will build our economic recovery on a stronger foundation, so that we do not face another crisis like this ten or twenty years from now. We invest in the renewable sources of energy that will lead to new jobs, new businesses, and less dependence on foreign oil. We invest in our schools and our teachers so that our children have the skills they need to compete with any workers in the world. We invest in reform that will bring down the cost of health care for families, businesses, and our government. And in this budget, we have made the tough choices necessary to cut our deficit in half by the end of my first term – even under the most pessimistic estimates.

At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led to a narrow prosperity and massive debt. It’s with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.

And how have the Republicans responded so far on creating jobs, investing in education, and bringing down the cost of health care?

"There is little or no Republican support for this budget," McConnell said.

And what do they propose?

Republicans would like bigger increases in military spending, a freeze on non-defense domestic programs and tax cuts, including on the estate tax. That is a formula they used for budgets throughout former President George W. Bush's eight years in office.

Um, no thanks. Been there, done that. Let's go with that first thing instead.