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Obama Deficit Speech April 13

Obama Deficit Speech April 13

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Published by Kim Gandy
April 13 Speech by President Obama on how he plans to bring down the deficit
April 13 Speech by President Obama on how he plans to bring down the deficit

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Categories:Types, Speeches
Published by: Kim Gandy on Apr 13, 2011
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03/17/2014

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THE WHITE HOUSEOffice of the Press Secretary ________________________________________________________________________________  ______________________________________ EMBARGOED UNTIL DELIVERA!ri" #$% &'##
 Remarks of President Barack Obama – As Prepared for DeliveryThe Country We Believe nThe !eor"e Washin"ton #niversityWashin"ton$ DCApril %&$ '(%%
 As Prepared for Delivery— 
Goo( after)oo)* It+s ,reat to -e -ac. at GW* I /a)t yo0 to .)o/ that o)e of the reaso)s I .e!t the ,o1er)2e)t o!e) /as so I co0"( -e here to(ay /ith a"" of yo0* I /a)te( to 2a.e s0re yo0 ha( o)e 2ore e3c0se to s.i! c"ass* o0+re /e"co2e* Of co0rse% /hat /e+1e -ee) (e-ati), here i) Washi),to) for the "ast fe/ /ee.s /i"" affect yo0r "i1es i) /ays that are !ote)tia""y !rofo0)(* This (e-ate o1er -0(,ets a)( (eficits is a-o0t 2ore tha) 40st )02-ers o) a !a,e% 2ore tha) 40st c0tti), a)( s!e)(i),* It+s a-o0t the .i)( of f0t0re /e /a)t* It+s a-o0t the .i)( of co0)try /e -e"ie1e i)* A)( that+s /hat I /a)t to ta". a-o0t to(ay* 5ro2 o0r first (ays as a )atio)% /e ha1e !0t o0r faith i) free 2ar.ets a)( free e)ter!rise as the e),i)e of A2erica+s /ea"th a)( !ros!erity* More tha) citi6e)s of a)y other co0)try% /e are r0,,e( i)(i1i(0a"ists% a se"f7re"ia)t !eo!"e /ith a hea"thy s.e!ticis2 of too 20ch ,o1er)2e)t* B0t there has a"/ays -ee) a)other threa( r0))i), thro0,ho0t o0r history 8 a -e"ief that /e are a"" co))ecte(9 a)( that there are so2e thi),s /e ca) o)"y (o to,ether% as a )atio)* We -e"ie1e% i) the /or(s of o0r first Re!0-"ica) !resi(e)t% A-raha2 Li)co")% that thro0,h ,o1er)2e)t% /e sho0"( (o to,ether /hat /e ca))ot (o as /e"" for o0rse"1es* A)( so /e+1e -0i"t a stro), 2i"itary to .ee! 0s sec0re% a)( !0-"ic schoo"s a)( 0)i1ersities to e(0cate o0r citi6e)s* We+1e "ai( (o/) rai"roa(s a)( hi,h/ays to faci"itate tra1e" a)( co22erce* We+1e s0!!orte( the /or. of scie)tists a)( researchers /hose (isco1eries ha1e sa1e( "i1es% 0)"eashe( re!eate( tech)o"o,ica" re1o"0tio)s% a)( "e( to co0)t"ess )e/ 4o-s a)( e)tire i)(0stries* Each of 0s has -e)efitte( fro2 these i)1est2e)ts% a)( /e are a 2ore !ros!ero0s co0)try as a res0"t*
 
Part of this A2erica) -e"ief that /e are a"" co))ecte( a"so e3!resses itse"f i) a co)1ictio) that each o)e of 0s (eser1es so2e -asic 2eas0re of sec0rity* We reco,)i6e that )o 2atter ho/ res!o)si-"y /e "i1e o0r "i1es% har( ti2es or -a( "0c.% a cri!!"i), i"")ess or a "ayoff% 2ay stri.e a)y o)e of 0s* :There -0t for the ,race of Go( ,o I%; /e say to o0rse"1es% a)( so /e co)tri-0te to !ro,ra2s "i.e Me(icare a)( Socia" Sec0rity% /hich ,0ara)tee 0s hea"th care a)( a 2eas0re of -asic i)co2e after a "ifeti2e of har( /or.9 0)e2!"oy2e)t i)s0ra)ce% /hich !rotects 0s a,ai)st 0)e3!ecte( 4o- "oss9 a)( Me(icai(% /hich !ro1i(es care for 2i""io)s of se)iors i) )0rsi), ho2es% !oor chi"(re)% a)( those /ith (isa-i"ities* We are a -etter co0)try -eca0se of these co22it2e)ts* I+"" ,o f0rther 8 /e /o0"( )ot -e a ,reat co0)try /itho0t those co22it2e)ts* 5or 20ch of the "ast ce)t0ry% o0r )atio) fo0)( a /ay to affor( these i)1est2e)ts a)( !riorities /ith the ta3es !ai( -y its citi6e)s* As a co0)try that 1a"0es fair)ess% /ea"thier i)(i1i(0a"s ha1e tra(itio)a""y -or) a ,reater share of this -0r(e) tha) the 2i(("e c"ass or those "ess fort0)ate* This is )ot -eca0se /e -e,r0(,e those /ho+1e (o)e /e"" 8 /e ri,ht"y ce"e-rate their s0ccess* Rather% it is a -asic ref"ectio) of o0r -e"ief that those /ho ha1e -e)efitte( 2ost fro2 o0r /ay of "ife ca) affor( to ,i1e a -it 2ore -ac.* Moreo1er% this -e"ief has )ot hi)(ere( the s0ccess of those at the to! of the i)co2e sca"e% /ho co)ti)0e to (o -etter a)( -etter /ith each !assi), year* No/% at certai) ti2es 8 !artic0"ar"y (0ri), !erio(s of /ar or recessio) 8 o0r )atio) has ha( to  -orro/ 2o)ey to !ay for so2e of o0r !riorities* A)( as 2ost fa2i"ies 0)(ersta)(% a "itt"e cre(it car( (e-t is)+t ,oi), to h0rt if it+s te2!orary* B0t as far -ac. as the #<='s% A2erica starte( a2assi), (e-t at 2ore a"ar2i), "e1e"s% a)( o0r "ea(ers -e,a) to rea"i6e that a "ar,er cha""e),e /as o) the hori6o)* They .)e/ that e1e)t0a""y% the Ba-y Boo2 ,e)eratio) /o0"( retire% /hich 2ea)t a 20ch -i,,er !ortio) of o0r citi6e)s /o0"( -e re"yi), o) !ro,ra2s "i.e Me(icare% Socia" Sec0rity% a)( !ossi-"y Me(icai(* Li.e !are)ts /ith yo0), chi"(re) /ho .)o/ they ha1e to start sa1i), for the co""e,e years% A2erica ha( to start  -orro/i), "ess a)( sa1i), 2ore to !re!are for the retire2e)t of a) e)tire ,e)eratio)* To 2eet this cha""e),e% o0r "ea(ers ca2e to,ether three ti2es (0ri), the #<<'s to re(0ce o0r )atio)+s (eficit* They for,e( historic a,ree2e)ts that re>0ire( to0,h (ecisio)s 2a(e -y the first Presi(e)t B0sh a)( Presi(e)t ?"i)to)9 -y De2ocratic ?o),resses a)( a Re!0-"ica) ?o),ress* A"" three a,ree2e)ts as.e( for share( res!o)si-i"ity a)( share( sacrifice% -0t they "ar,e"y !rotecte( the 2i(("e c"ass% o0r co22it2e)ts to se)iors% a)( .ey i)1est2e)ts i) o0r f0t0re* As a res0"t of these -i!artisa) efforts% A2erica+s fi)a)ces /ere i) ,reat sha!e -y the year &'''* We /e)t fro2 (eficit to s0r!"0s* A2erica /as act0a""y o) trac. to -eco2i), co2!"ete"y (e-t7free% a)( /e /ere !re!are( for the retire2e)t of the Ba-y Boo2ers* B0t after De2ocrats a)( Re!0-"ica)s co22itte( to fisca" (isci!"i)e (0ri), the #<<'s% /e "ost o0r /ay i) the (eca(e that fo""o/e(* We i)crease( s!e)(i), (ra2atica""y for t/o /ars a)( a) e3!e)si1e !rescri!tio) (r0, !ro,ra2 8 -0t /e (i()+t !ay for a)y of this )e/ s!e)(i),* I)stea(% /e 2a(e the !ro-"e2 /orse /ith tri""io)s of (o""ars i) 0)!ai(7for ta3 c0ts 8 ta3 c0ts that /e)t to e1ery 2i""io)aire a)( -i""io)aire i) the co0)try9 ta3 c0ts that /i"" force 0s to -orro/ a) a1era,e of @''  -i""io) e1ery year o1er the )e3t (eca(e*
 
To ,i1e yo0 a) i(ea of ho/ 20ch (a2a,e this ca0se( to o0r )atio)a" chec.-oo.% co)si(er this i) the "ast (eca(e% if /e ha( si2!"y fo0)( a /ay to !ay for the ta3 c0ts a)( the !rescri!tio) (r0,  -e)efit% o0r (eficit /o0"( c0rre)t"y -e at "o/ historica" "e1e"s i) the co2i), years* Of co0rse% that+s )ot /hat ha!!e)e(* A)( so% -y the ti2e I too. office% /e o)ce a,ai) fo0)( o0rse"1es (ee!"y i) (e-t a)( 0)!re!are( for a Ba-y Boo2 retire2e)t that is )o/ starti), to ta.e  !"ace* Whe) I too. office% o0r !ro4ecte( (eficit /as 2ore tha) @# tri""io)* O) to! of that% /e face( a terri-"e fi)a)cia" crisis a)( a recessio) that% "i.e 2ost recessio)s% "e( 0s to te2!orari"y -orro/ e1e) 2ore* I) this case% /e too. a series of e2er,e)cy ste!s that sa1e( 2i""io)s of 4o-s% .e!t cre(it f"o/i),% a)( !ro1i(e( /or.i), fa2i"ies e3tra 2o)ey i) their !oc.ets* It /as the ri,ht thi), to (o%  -0t these ste!s /ere e3!e)si1e% a)( a((e( to o0r (eficits i) the short ter2*So that+s ho/ o0r fisca" cha""e),e /as create(* This is ho/ /e ,ot here* A)( )o/ that o0r eco)o2ic reco1ery is ,ai)i), stre),th% De2ocrats a)( Re!0-"ica)s 20st co2e to,ether a)( restore the fisca" res!o)si-i"ity that ser1e( 0s so /e"" i) the #<<'s* We ha1e to "i1e /ithi) o0r 2ea)s% re(0ce o0r (eficit% a)( ,et -ac. o) a !ath that /i"" a""o/ 0s to !ay (o/) o0r (e-t* A)( /e ha1e to (o it i) a /ay that !rotects the reco1ery% a)( !rotects the i)1est2e)ts /e )ee( to ,ro/% create 4o-s% a)( /i) the f0t0re*  No/% -efore I ,et i)to ho/ /e ca) achie1e this ,oa"% so2e of yo0 2i,ht -e /o)(eri),% :Why is this so i2!orta)tC Why (oes this 2atter to 2eC;Here+s /hy* E1e) after o0r eco)o2y reco1ers% o0r ,o1er)2e)t /i"" sti"" -e o) trac. to s!e)( 2ore 2o)ey tha) it ta.es i) thro0,ho0t this (eca(e a)( -eyo)(* That 2ea)s /e+"" ha1e to .ee!  -orro/i), 2ore fro2 co0)tries "i.e ?hi)a* A)( that 2ea)s 2ore of yo0r ta3 (o""ars /i"" ,o to/ar(  !ayi), off the i)terest o) a"" the "oa)s /e .ee! ta.i), o0t* By the e)( of this (eca(e% the i)terest /e o/e o) o0r (e-t co0"( rise to )ear"y @# tri""io)* 0st the i)terest !ay2e)ts* The)% as the Ba-y Boo2ers start to retire a)( hea"th care costs co)ti)0e to rise% the sit0atio) /i"" ,et e1e) /orse* By &'&% the a2o0)t of ta3es /e c0rre)t"y !ay /i"" o)"y -e e)o0,h to fi)a)ce o0r hea"th care !ro,ra2s% Socia" Sec0rity% a)( the i)terest /e o/e o) o0r (e-t* That+s it* E1ery other )atio)a" !riority 8 e(0catio)% tra)s!ortatio)% e1e) )atio)a" sec0rity 8 /i"" ha1e to -e !ai( for /ith  -orro/e( 2o)ey*U"ti2ate"y% a"" this risi), (e-t /i"" cost 0s 4o-s a)( (a2a,e o0r eco)o2y* It /i"" !re1e)t 0s fro2 2a.i), the i)1est2e)ts /e )ee( to /i) the f0t0re* We /o)+t -e a-"e to affor( ,oo( schoo"s% )e/ research% or the re!air of roa(s a)( -ri(,es 8 a"" the thi),s that /i"" create )e/ 4o-s a)( -0si)esses here i) A2erica* B0si)esses /i"" -e "ess "i.e"y to i)1est a)( o!e) 0! sho! i) a co0)try that see2s 0)/i""i), or 0)a-"e to -a"a)ce its -oo.s* A)( if o0r cre(itors start /orryi), that /e 2ay -e 0)a-"e to !ay -ac. o0r (e-ts% it co0"( (ri1e 0! i)terest rates for e1eryo)e /ho -orro/s 2o)ey 8 2a.i), it har(er for -0si)esses to e3!a)( a)( hire% or fa2i"ies to ta.e o0t a 2ort,a,e* The ,oo( )e/s is% this (oes)+t ha1e to -e o0r f0t0re* This (oes)+t ha1e to -e the co0)try /e "ea1e to o0r chi"(re)* We ca) so"1e this !ro-"e2* We ca2e to,ether as De2ocrats a)( Re!0-"ica)s to 2eet this cha""e),e -efore% a)( /e ca) (o it a,ai)* B0t that starts -y -ei), ho)est a-o0t /hat+s ca0si), o0r (eficit* o0 see% 2ost A2erica)s te)( to (is"i.e ,o1er)2e)t s!e)(i), i) the a-stract% -0t they "i.e the st0ff it -0ys* Most of 0s% re,ar("ess of

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