"If we want to keep rebuilding this economy on a stronger,sturdier foundation for growth - growth that creates good, middle-class jobs - we need to make smarter choices. "This week, I'll send the budget to Congress that will help do just that - a fiscally-responsible blueprint for middle-class jobs and growth," Obama said in his weekly radio and web address to the nation. Noting that for years, an argument in Washington has raged between reducing the country's deficits at all costs, and making the investments needed to grow the economy, Obama said his budget puts that argument to rest. "Because we don't have to choose between these goals - we can do both.
After all, as we saw in the 1990s, nothing reduces deficits faster than a growing economy," he said. "My budget will reduce our deficits not with aimless, reckless spending cuts that hurt students and seniors and middle-class families - but through the balanced approach that the American people prefer, and the investments that a growing economy demands," he said. "Now, the truth is, our deficits are already shrinking. That's a fact. I've already signed more than USD 2.5 trillion in deficit reduction into law, and my budget will reduce our deficits by nearly USD 2 trillion more, without harming the recovery. That surpasses the goal of USD 4 trillion in deficit reduction that many economists believe will stabilise our finances," Obama added.
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