From the White House weblog:
Hours after signing pay-as-you-go legislation into law, President Barack Obama praised this step towards restoring fiscal responsibility and called for both parties to set aside politics and do the hard work of addressing the deficit. To this end, since the proposed Fiscal Commission was recently blocked in the Senate – by a handful of Republicans who had previously backed the idea — the President will create this commission by executive order. The President believes it is time for Washington to once again take responsibility for every dollar it spends.
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.