Saturday, April 9, 2011

President Obama on the Budget Compromise to Avoid a Government Shutdown

Weekly Address: President Obama on the Budget Compromise to Avoid a Government Shutdown

After weeks of negotiations, President Obama and leaders from both the Democratic and Republican parties in Congress found common ground in an agreement about the United States' budget. This means the government will remain open to serve the public, including small businesses who need need loans to grow, families who've applied for mortgages and others who are visiting national parks and museums. It also means that hundreds of thousands of Americans - including brave men and women in uniform - will get paychecks on time.

In his Weekly Address, the President discusses the importance of the bipartisan budget agreement that represents both a significant investment in the United States' future - and the largest annual spending cut in our history.


This is an agreement to invest in our country’s future while making the largest annual spending cut in our history. Like any compromise, this required everyone to give ground on issues that were important to them. I certainly did. Some of the cuts we agreed to will be painful – programs people rely on will be cut back; needed infrastructure projects will be delayed. And I would not have made these cuts in better circumstances. But we also prevented this important debate from being overtaken by politics and unrelated disagreements on social issues. And beginning to live within our means is the only way to protect the investments that will help America compete for new jobs – investments in our kids’ education and student loans; in clean energy and life-saving medical research. - President Barack Obama
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