by Mark Silva
President Barack Obama says the $3.55-trillion federal budget that he proposes is a matter of "keeping promises.''
Among the promises on which he campaigned: "A government that served not the interests of powerful lobbyists or the wealthiest few, but the middle-class Americans.''
"That is the change I promised as a candidate for president,'' Obama says in his weekly Internet and radio address. "It is the change the American people voted for in November. And it is the change represented by the budget I sent to Congress this week.''
Confronting a $1.75-trillion federal budget deficit this year, the Obama administration says that it can cut that to $1.17 trillion in 2010 and then halve it, to $533 billion, by the end of the president's first term. The president hopes to get there with a combination of spending cuts and tax increases for the wealthiest Americans -- with new tolls starting after 2011, with the repeal of the tax cuts that President Bush won in 2001 and 2003.
In the process, Obama hopes to start setting aside money for health care for more Americans, a $644-billion commitment over 10 years.
Republicans are calling the budget another spending spree, like the $787-billion economic stimulus that Obama signed four weeks in office.
"It seems like every day you pick up the newspaper, you're reading about another multibillion-dollar bill passed,'' says Sen. Richard Burr (R-N..C.), in the GOP's response today.
See the text of the president's address here:
Two years ago, we set out on a journey to change the way that Washington works.
We sought a government that served not the interests of powerful lobbyists or the wealthiest few, but the middle-class Americans I met every day in every community along the campaign trail - responsible men and women who are working harder than ever, worrying about their jobs, and struggling to raise their families. In so many town halls and backyards, they spoke of their hopes for a government that finally confronts the challenges that their families face every day; a government that treats their tax dollars as responsibly as they treat their own hard-earned paychecks.
That is the change I promised as a candidate for president. It is the change the American people voted for in November. And it is the change represented by the budget I sent to Congress this week.
During the campaign, I promised a fair and balanced tax code that would cut taxes for 95% of working Americans, roll back the tax breaks for those making over $250,000 a year, and end the tax breaks for corporations that ship our jobs overseas. This budget does that.
I promised an economy run on clean, renewable energy that will create new American jobs, new American industries, and free us from the dangerous grip of foreign oil. This budget puts us on that path, through a market-based cap on carbon pollution that will make renewable energy the profitable kind of energy; through investments in wind power and solar power; advanced biofuels, clean coal, and more fuel-efficient American cars and American trucks.
I promised to bring down the crushing cost of health care - a cost that bankrupts one American every thirty seconds, forces small businesses to close their doors, and saddles our government with more debt. This budget keeps that promise, with a historic commitment to reform that will lead to lower costs and quality, affordable health care for every American.
I promised an education system that will prepare every American to compete, so Americans can win in a global economy. This budget will help us meet that goal, with new incentives for teacher performance and pathways for advancement; new tax credits that will make college more affordable for all who want to go; and new support to ensure that those who do go finish their degree.
This budget also reflects the stark reality of what we've inherited - a trillion dollar deficit, a financial crisis, and a costly recession. Given this reality, we'll have to be more vigilant than ever in eliminating the programs we don't need in order to make room for the investments we do need. I promised to do this by going through the federal budget page by page, and line by line. That is a process we have already begun, and I am pleased to say that we've already identified two trillion dollars worth of deficit-reductions over the next decade. We've also restored a sense of honesty and transparency to our budget, which is why this one accounts for spending that was hidden or left out under the old rules.
I realize that passing this budget won't be easy. Because it represents real and dramatic change, it also represents a threat to the status quo in Washington. I know that the insurance industry won't like the idea that they'll have to bid competitively to continue offering Medicare coverage, but that's how we'll help preserve and protect Medicare and lower health care costs for American families. I know that banks and big student lenders won't like the idea that we're ending their huge taxpayer subsidies, but that's how we'll save taxpayers nearly $50 billion and make college more affordable. I know that oil and gas companies won't like us ending nearly $30 billion in tax breaks, but that's how we'll help fund a renewable energy economy that will create new jobs and new industries. In other words, I know these steps won't sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they're gearing up for a fight as we speak. My message to them is this:
So am I.
The system we have now might work for the powerful and well-connected interests that have run Washington for far too long, but I don't. I work for the American people. I didn't come here to do the same thing we've been doing or to take small steps forward, I came to provide the sweeping change that this country demanded when it went to the polls in November. That is the change this budget starts to make, and that is the change I'll be fighting for in the weeks ahead - change that will grow our economy, expand our middle-class, and keep the American Dream alive for all those men and women who have believed in this journey from the day it began.
Thanks for listening.
Comments
"Helping the middle class" by crashing the dollar... and bringing us hyperinflation?
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When all historical precedent suggests that big government programs and high tax rates impoverish nations as a whole... what on earth is this guy thinking? He can't possibly think that robbing job-creating Peter to pay jealous Pauls could create wealth.
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One could make the argument he knows his legacy will already be in tatters by 2010-2012.. and is ramming through as much of his far-left agenda as he can before the day comes when people cringe at the mere mention of his name... sure seems like it.
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http://reaganiterepublicanresistance.blogspot.com/
Posted by: Reaganite Republican | February 28, 2009 9:34 AM
DNC Swamp "coverage" of Dem address and GOP response--Total words quoted, 883 Dem, 18 Republican. Or 98% Dem, 2% GOP.
Fair and Balanced--NOT. Evidently loyal Democrat Mark Silva is so uncertain how Obama's trillion dollar spending message will sell, that Silva feels he must go 49-1 Dem in order that the Dem's side prevails.
Got a radical suggestion for you, Mark. How about giving both sides equal time, and equal space?
And just to help you, and the Tribune, out, here's the link to Senator Burr's response: http://republican-news-sweep.blogspot.com/2009/02/senator-richard-burr-r-nc-delivers.html
It wasn't that hard to find, Mark. Took all of 2 seconds on a google search. Two seconds, for equality. Try it sometime....
Posted by: Bruce | February 28, 2009 9:48 AM
The rebuttal will be on the fair and balanced network at 5:00PM (east). Live and in color, the great radio guru, the itch the lefties can not scratch but keeps spreading (he,he ,he ho,ho!), will explain all with clarity. Hate for you to miss it, billy!
Posted by: bubba Porter | February 28, 2009 9:56 AM
Article really explains why newspapers are closing. There is no journalism. We can just go to White House website and get same as this artcle.
The artice has no objectivity, no analysis, no connection of the benefits or the cost means to Americans.
Posted by: Don | February 28, 2009 10:15 AM
Keeping promises to whom? Big government is not the answer. The people in Washington can't get out
of their own way, Taxes are going to go through the roof for everyone, don't think that this not going to effect even the lowest of incomes, and the people on fixed incomes,The promises he said he's going to keep are to the people who bought this pie in the sky fantasy.
Posted by: Paul | February 28, 2009 10:15 AM
Baloney.
Posted by: Lil | February 28, 2009 10:16 AM
One year ago, the U.S. had a Republican president giving weekly radio addresses, and Democrats were giving the responses.
And by an amazing coincidence, when Mark Silva wrote an article on these addresses, he included the Democrat's response in full. See http://www.swamppolitics.com/news/politics/blog/2008/02/surveillance_law_expires_bush.html for an example from a year ago of how the writer who excludes the Republican response today, included the full response when his Democrats were the responders.
Afraid their man Obama will lose any fair debate on the economy, The Swamp writers have decided to insure no fair debate occurs.
Posted by: Bruce | February 28, 2009 10:18 AM
Mark, remove this stupid autoplay video! You guys have done this in the past and it was equally annoying on our end.
Bruce, how about you just fabricate the pug response. I'm sure you can fabricate as well as your party does.
Posted by: Xcelllentform | February 28, 2009 10:27 AM
The U.S. taxpayers are now bearing billions of dollars of losses on the Troubled Assets held by the banks. The underlying “troubled assets” are the “toxic” mortgages such as Alt-A, Option ARMs, Interest-Only, etc. that are interwoven into the Mortgage Backed Securities, Collateral Debt Obligations, and other derivative investments that are leveraged into investments valued in the trillions of dollars worldwide.
The growing concern is that these losses will continue to materialize as defaults increase with the projected 8 million foreclosures expected over the next four years. It seems that the key to this crisis IS THE BORROWER!
In 1943, Winston Churchill said..”Never before have so many owed so much to so few”. The Borrower holds the key to a solution of this economic crisis, especially as we approach the 2nd “Tsunami” Wave of Foreclosures on the Resetting of these “Toxic’ Mortgages.
Since the valuation of these “toxic” assets depends on the Borrower’s ability to make the monthly mortgage payments, the key to a solution of this Economic Crisis is the Borrower!
Everyone is betting that the Borrower will default and foreclosures will follow. The high rate of foreclosure should have been expected because the Borrower has no concept of managing money.
The Borrower is in desperate need of “Financial Guidance” in this complex economic environment that requires “informed” financial decision-making. The Subprime Mortgage Crisis, out-of-control consumer spending and credit card usage, and the spike in foreclosures and bankruptcies provide evidence of that fact. Loan modification or “Bailout” will not work. Even after loan modification, the re-default rate was 60% within 6 months!
The solution is a program of Immediate and Specific Financial Guidance that will help the Borrower “naturally” be able to make the monthly mortgage payment, without “bailout” or extensive loan modifications which have proven to be a failure.
bornsteinsong@aol.com
Posted by: Prof. Samuel D. Bornstein | February 28, 2009 10:46 AM
You would waste your Saturday on that, Bubba Porter?? I'm disappointed in you! I hope he doesn't go on sleeveless.
Posted by: Flo | February 28, 2009 11:17 AM
Obama is giving a break here and adding double next year and we'll all be taxed to death. You can't have a war on business and expect jobs to be created. You've got to be living on another planet to believe what you have written. You need to read the entire package and what he's doing next year. Have fun next year trying to make you house payment but thats okay your house will be make shift by the river with a shopping cart. Have a nice day.
Posted by: Don B. | February 28, 2009 11:59 AM
With his budget, what happened to the promise of "pay-as-you-go"?
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His speech does nothing but build up a lobbyist strawman and then tear it down. Do you think with all this money that will be coming out of Washington, there won't be an incraese in lobbyist? The lobbyist will just be different. They will be the unions, educators, alternate energy companies (General Electric, ADM) and of course let's not foget the old standby - the trial lawyers.
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Wlecome to European Socialism
Posted by: Terry | February 28, 2009 12:11 PM
Here are a couple of notable "promises":
Reduce the size of the federal government by 10%
Eliminate earmark spending
Reduce the deficit.
Reduce taxes on the middle class. I include this because his current budget can not be funded even if he raises taxes to 100% on the top 2%.
So how are hope and change working out so far?
Posted by: Greg | February 28, 2009 12:52 PM
There could be no better investment in America than to invest in America becoming energy independent! We need to utilize everything in out power to reduce our dependence on foreign oil including using our own natural resources.Create cheap clean energy, new badly needed green jobs and reduce our dependence on foreign oil.The high cost of fuel this past year seriously damaged our economy and society. The cost of fuel effects every facet of consumer goods from production to shipping costs. After a brief reprieve gas is inching back up.OPEC will continue to cut production until they achieve their desired 80-100. per barrel.If all gasoline cars, trucks, and SUV's instead had plug-in electric drive trainsthe amount of electricity needed to replace gasoline is about equal to the estimated wind energy potential of the state of North Dakota.There is a really good new book out by Jeff Wilson called The Manhattan Project of 2009 Energy Independence Now. http://www.themanhattanprojectof2009.com
Posted by: Steven | February 28, 2009 12:54 PM
Given this week's Senate confirmation of tax cheat/ethics policy violator Hilda Solis, former money-handler - while serving in Congress - of the union-front special interest lobbyist group ARAW, as Labor Secretary, the system we have now might work for the powerful and well-connected union interests that have run the Democratic Party for far too long. The American people didn't elect Obama to empower new special interests at the expense of their voting rights and economic recovery. Empowering unions without the worker protection of secret-ballot elections will NOT grow our economy, WILL NOT expand our middle-class, and WILL NOT keep the American Dream alive for all those men and women who have believed in this journey from the day it began. That journey begins with democratic rights; not autocratic top-down collectivizing by private organizations disguised as political movements. The Nazis called themselves a movement too.
Posted by: Don't let Obama give control of your workplace voting rights to the unions. | February 28, 2009 12:57 PM
It's nice to see that the Repuglicans on here are still longing for the "good ol' days" of the last eight years when the Repuglican/Bush led budget contained 50% tax cuts for the richest 1-2%, big corporations and big oil and 50% for a trumped up war in Iraq or any other potential war.
I'd be disappointed if they actually wised up and left me with no one to make fun of.
Posted by: Hulk Smash! | February 28, 2009 1:31 PM
I can't think of a more appropriate parody.
The Wizard of ID a parody. (frame by frame).
Wizard to Obama: What are you offering the peasants in your election speech today.
Obama: Nothing they can afford to refuse.
Obama: Elect me, and I promise you "free" healthcare!
Obama: Free Housing!. Free Clothing!
Obama: Food stamps!
Obama: and jobs for "everybody", yea!
Obama: Any questions?
Obama: Yes?
Peasant: What do we need jobs for?
Posted by: PG | February 28, 2009 1:37 PM
It's stunning how the Republican overlords (Rush, Faux Noise Channel etc) can get their blue collar minions out on messsage boards like this to protest against the rich paying more taxs and the middle-class getting a big, long over due tax cut.
One thing you can always depend on with Repub minions - they won't read the fine print and if they do, they won't believe it.
Posted by: Jimi | February 28, 2009 1:37 PM
Taxes will be cut for the middle class family.
New american industry will be created.
Clean energy will be created.
More facilities in health care.
Many promises and see if they can be met or not.
And really this is something that we can not have it but only promises.
Posted by: tanveer | February 28, 2009 1:51 PM
Bruce, what you are asking of Mark Silva is that he be an actual journalist and not a biased shrill for his lord, Obama. I think he sees his buds from the Obune Washington office get cushy Obama administration jobs and he is hoping for the same.
Anyway, this "plan" will not help the middle class at all. If anything, it will only harm it and make more Americans poor. His plan to not allow mortgage reductions for the rich will only hurt the housing market even more. Wall Street has been dropping like a rock since Obama became president.
About a year ago, Silva's mentor in crime, William Niekirk wrote about a possible depression. I think Niekirk and Silva will get their wishes. Course, in the end, they may not like getting their wishes answered.
Posted by: John D | February 28, 2009 2:08 PM
Isn't Northern Turst of Chicago that has been in the news for partying with the bailout money they didn't ask for the same bank the Obamas got their sweetheart mortgage with and over 71,000 in donations?? I say if it is he should give the money back just like ole barney is asking Norhern Trust to do.
Posted by: kaz | February 28, 2009 3:32 PM
Look, it is very simple....we have elected a man of principle, who is really going to try and do what he has told the American people he intends to do. The shock of those who has been running the show in Washington up until now has no doubt left them stunned. We are about to witness an epic and historic turning point in our Country's direction. We will either maintain the Status Quo that leaves far too many behind, in terms of opportunity, or we will open the door to building a new economy and rebuilding a middle class in America that has all but been snuffed out. This is an exciting time to witness History in the making. We have elected a President who is his own man, and like President Kennedy, will have powerful forces against him. We need to pray for our President and for our Country.
Posted by: Teaparty5 | February 28, 2009 4:07 PM
What the hell is wrong with these anti Stimulus bill Republican morons?
“We’re just people who don’t want our kids and grandchildren shackled with thousands of dollars of debt each.”
Helllooooooo. What country have they been living in? Bush and the Republicans take over a government with a surplus and then they charge the biggest deficit ever on what used to be our credit card. Now Bush and his Republican accomplices are free and clear and we’re stuck with the bill.
I have no idea if the stimulus package will work and I don’t care what the Wingnuts want to call it. All I know is that the current administration is trying to do SOMETHING to clean up a mess that every ShamWow couldn’t mop up.
Posted by: Wingnut stupidity | February 28, 2009 5:16 PM
I just saw Druggy Rush speaking at the Wingnut circus in DC, ha ha ha.
One thing is for sure, Rush doesn't need a tele-promter, he just pops a couple hillbilly heroin tablets and then starts shouting to the loyal ditto-heads. The Repugs need an authoritorian figure to tell them what to think and that's where blowhards like Rush step in. It's a sight to behold.
It gives me great pleasure as a Democrat to watch the Repugs annoint Rush as their leader. From now on when the average American voter thinks of the Repuglican party they'll automatically think of Rush's fat mug and get repulsed.
Yes We Did!
Posted by: I wanna be a Republican idiot | February 28, 2009 8:15 PM
Hey, where's the tax cuts for the rich and the money set aside for pre-emptive wars in this budget?......oh, wait a minute....Bush and the Republicons are gone?......nevermind.
Posted by: Elephant Herder | February 28, 2009 8:21 PM
Nice to see the anti-tax crowd speaking. Anyone noting the lack of lefties praising this tax/wealth redistribution budget and the spending of tax revenues from generations not yet born? I just cringe at this hidden tax, cap and trade, energy policy. If this becomes law, the middle class can kiss their "tax break" crumbs goodbye. Where is the comprehensive energy review? It is madness to not promote domestic oil production, cleaner use of coal, and nuclear energy before establishing a dependable green energy replacement. Obama is myopic on energy. And these continues attacks on the folks like me, a solid American who studied hard, worked hard ,played by the rules, paid my taxes and mortgage, saved and invested now subjected to relentless subjugation of my success to bailout those who dependent on nanny government because of inept, failed socialist policies. I am all for helping those in need but it is damn crazy to continue to to expand entitlements to those who chose to depend on these failures forsaking the ambition to take responsibility for themselves. Look what the trillions spent on the so-called "war on poverty" brought to us by the "great society" Dems. gave us. An utter failure that has made many societal issues worse. Liberals never learn as they are always screaming "victim" and class mongering PC BS. We should reject this classic example of tax and spend credit card boondoggle. No change here only more failures.
Posted by: bubba Porter | March 1, 2009 7:02 AM
The budget is fine, Bubba Porter; it's bold, which is needed in a time of crisis, and "liberal" because that's what the majority of America wanted. As for your moaning about being victimized.... BS. Stop whining. The "No change here" more of the same is the crap at the CPAC convention the last 3 days. I bet they didn't present one new creative idea. If all conservatism has is Rush, Coulter, and Gingrich--you need to moan about them, not the President.
Posted by: Flo | March 1, 2009 12:16 PM
Flo, I stand by my words. There will be a great backlash against these socialist failures.
After watching the great radio guru on his first ever (non-TelePrompTer) worldwide speech on conservative values and the strength of our message based on the principles of our Founding Fathers I am convinced that we will retake Congress in a 2010 landslide. The liberal/socialist agenda will be rejected. Americans will tire of paying for this utopian fantasy when in hidden taxes and costs trickle down on them. Hope you caught it, I gave you a heads up, so I bet ya did!
Posted by: bubba Porter | March 1, 2009 2:55 PM
No, Bubba Porter, I don't waste my time on Limbaugh. I'd like to know though.. what was that black thing he was wearing?? What first ever? He's been making speeches for years. Oh, and by the way, lefties work and pay taxes too.
Posted by: Flo | March 1, 2009 5:39 PM
Some guru, BP; the man is a disgrace. Rush and the entire CPAC audience took the time and effort to malign John Kerry's service to this country, even laughing at the mention of Vietnam. Rush's disrespect for the military dripped off the very mention of Kerry's name. It was disgraceful. For a crew who professes to respect the military, at every turn Republicans reveal their disdain for our troops, especially if they're Democrats. It's the same with Republican military policy, which has strung our forces out and depleted our reserves.
Lots of fresh ideas, eh?
Posted by: gladys | March 1, 2009 7:57 PM