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
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

Reports of Mass Murder on Mediterranean Smuggler’s Boat

Boat sailed from Libya with 750 migrants aboard and arrived in Italy with 569 More

Video New Thailand Hotline Targets Misbehaving Monks

Officials say move aims to restore country’s image of Buddhism, tarnished by recent high profile scandals such as opulent lifestyle, drug and alcohol abuse, as well as child sex abuse More

Study: Dust from Sahara Helped Form Bahama Islands

What does the Sahara have in common with a Caribbean island? Quite a lot, researchers say 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.
Astronauts Train in Underwater Labi
X
George Putic
July 25, 2014 7:25 PM
In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Astronauts Train in Underwater Lab

In the world’s only underwater laboratory, four U.S. astronauts train for a planned visit to an asteroid. The lab - called Aquarius- is located five kilometers off Key Largo, in southern Florida. Living in close quarters and making excursions only into the surrounding ocean, they try to simulate the daily routine of a crew that will someday travel to collect samples of a rock orbiting far away from earth. VOA’s George Putic has more.
Video

Video Not Even Monks Spared From Thailand’s Junta-Backed Morality Push

With Thailand’s military government firmly in control after May’s bloodless coup, authorities are carrying out plans they say are aimed at restoring discipline, morality and patriotism to all Thais. The measures include a crackdown on illegal gambling, education reforms to promote students’ moral development, and a new 24-hour phone hotline for citizens to report misbehaving monks. Steve Sandford reports from Bangkok.
Video

Video Virtual Program Teaches Farming Skills

In a fast-changing world beset by unpredictable climate conditions, farmers cannot afford to ignore new technology. Researchers in Australia are developing an online virtual world program to share information about climate change and more sustainable farming techniques for sugar cane growers. As VOA's Zlatica Hoke reports, the idea is to create a wider support network for farmers.
Video

Video Airline Expert: Missile will Show Signature on Debris

The debris field from Malaysia Airlines Flight 17 is spread over a 21-kilometer radius in eastern Ukraine. It is expected to take investigators months to sort through the airplane pieces to learn about the missile that brought down the jetliner and who fired it. VOAs Carolyn Presutti explains how this work will be done.
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.

AppleAndroid