From the White House weblog:
In his weekly address, President Barack Obama promised to rein the deficit, citing three specific steps to this end. He praised the Senate for restoring the pay-as-you-go law, which in the 1990’s contributed to the $236 billion surplus at the end of the decade. It is no coincidence that after ending PAYGO, that surplus became a $1.3 trillion deficit. He has also proposed a freeze in discretionary spending, which will increase investments in jobs creation and middle class tax cuts while cutting spending for redundant or ineffective programs. And finally, the President called for a bi-partisan Fiscal Commission to hammer out concrete deficit reduction proposals.
Click below to listen to the audio only:
The transcript of the president’s weekly address, as prepared for delivery, is available after the break.