News / USA

Obama Pledges to Control Budget Deficits

U.S. President Barack Obama says the Senate has helped to control the deficit, by restoring the pay-as-you-go law which was in place in the 1990's.

US President Barack Obama delivers the weekly speech, 30 Jan 2010
US President Barack Obama delivers the weekly speech, 30 Jan 2010
TEXT SIZE - +
Kent Klein

U.S. President Barack Obama says he is working to bring the government's budget deficit under control.  The president says the Senate has taken a good step in that direction.

President Obama says when it comes to making a budget, government needs to follow the same principles families follow.

"They accept that they cannot get everything they want and focus on what they really need," he said.  "They make tough decisions and sacrifice for their kids.  They do not spend what they do not have, and they make do with what they have got.  It is time their government did the same."

In his weekly radio and Internet address, Mr. Obama says the U.S. Senate has helped to control the deficit, by restoring the pay-as-you-go law which was in place in the 1990's.

"It is no coincidence that we ended that decade with a $236 billion surplus," he said. "But then we did away with PAYGO, and we ended the next decade with a $1.3 trillion deficit.  Reinstating this law will help get us back on track, ensuring that every time we spend, we find somewhere else to cut."

The president says another way to rein in the deficit is his proposed three-year freeze on some of the government's domestic spending.

"I have also proposed a spending freeze, so that as we increase investments in things we need, like job creation and middle class tax cuts, we cut spending on those we do not, like tax cuts for oil companies and investment fund managers, and programs that are redundant, obsolete or simply ineffective," he said.

The president also wants to form a fiscal commission, a panel of Republicans and Democrats who would work together to find ways to reduce the deficit.

"Because we have heard plenty of talk and a lot of yelling on TV about deficits, and it is now time to come together and make the painful choices we need to eliminate those deficits," he said.

Mr. Obama says 53 senators, from both parties, voted in the past week to create such a commission, but fell seven votes short of passage.  He says seven Republicans who originally sponsored the measure backed out for political reasons. 

The president is also emphasizing his efforts to revitalize the economy and to bring down the ten percent U.S. unemployment rate. 

You May Like

Algerians Vote in Presidential Election

There were few media reports of protests and clashes around the country, but so far no significant violence More

Sharks More Evolved than Previously Thought

The discovery could “profoundly affect our understanding of evolutionary history” More

Pakistan Military Asked to Protect Polio Workers

Request comes as authorities say a Taliban ban on vaccinations in 2012 and deadly attacks on anti-polio teams have prevented thousands of children from getting inoculated More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Google Buys Drone Companyi
|| 0:00:00
...
 
🔇
X
George Putic
April 15, 2014
In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
Video

Video Ray Bonneville Sings the Blues and More on New CD

Singer/songwriter Ray Bonneville has released a new CD called “Easy Gone” with music that reflects his musical and personal journey from French-speaking Canada to his current home in Austin,Texas. The eclectic artist’s fan base extends from Texas to various parts of North America and Europe. VOA’s Greg Flakus reports from Austin.
Video

Video Millions Labor in Pakistan's Informal Economy

The World Bank says that in Pakistan, roughly 70 percent work in the so-called informal sector, a part of the economy that is unregulated and untaxed. VOA's Sharon Behn reports from Islamabad on how the informal sector impact's the Pakistani economy.
Video

Video Passover Celebrates Liberation from Bondage

Jewish people around the world are celebrating Passover, a commemoration of their liberation from slavery in Egypt more than 3,300 years ago. According to scripture, God helped the Jews, led by Moses, escape bondage in Egypt and cross the Red Sea into the desert. Zlatica Hoke reports that the story of the Jewish Exodus resonates with other people trying to escape slave-like conditions.
Video

Video Police Pursue Hate Crime Charges Against Kansas Shooting Suspect

Prosecutors are sifting through the evidence in the wake of Sunday’s shootings in a suburb of Kansas City, Missouri that left three people dead. A suspect in the shootings taken into custody is a white supremacist. As VOA’s Kane Farabaugh reports, he was well-known to law enforcement agencies and human rights groups alike.
Video

Video In Eastern Ukraine, Pro-unity Activists Emerge from Shadows

Amid the pro-Russian uprisings in eastern Ukraine, there is a large body of activists who support Ukrainian unity and reject Russian intervention. Their activities have remained largely underground, but they are preparing to take on their pro-Moscow opponents, as Henry Ridgwell reports from the eastern city of Donetsk.
Video

Video Basket Maker’s Skills Have World Reach

A prestigious craft show in the U.S. capital offers one-of-a-kind creations by more than 120 artists working in a variety of media. As VOA’s Julie Taboh reports from Washington, one artist lucky enough to be selected says sharing her skills with women overseas is just as significant.
Video

Video UN Report Urges Speedier Action to Avoid Climate Disaster

A new United Nations report says the world must switch from fossil fuels to cleaner energy sources to control the effects of climate change. The Intergovernmental Panel on Climate Change released the report (Sunday) following a meeting of scientists and government representatives in Berlin. The comprehensive review follows two recent IPCC reports that detail the certainty of climate change, its impacts and in this most recent report what to do about it. VOA’s Rosanne Skirble has the details.
AppleAndroid