‘Living Within Our Means?’

According To The President, A $1 Trillion Stimulus Boondoggle And A Budget That Grows Debt To Over $20 Trillion Is ‘Living Within Our Means’ PRESIDENT OBAMA YESTERDAY: “A Budget That Makes Sure We Are Living Within Our Means.” “That’s why I’m calling on Democratic and Republican leaders of Congress to begin meeting immediately with the Vice President, my Chief of Staff, and Budget Director so we can find common ground on a budget that makes sure we are living within our means.” (The White House, Press Release, 3/2/11) President Obama During Stimulus Roll Out: ‘We’ve Got To Get Serious About Living Within Our Means’ PRESIDENT OBAMA IN 2009: “[W]e've Got To Get Serious About Starting To Live Within Our Means, instead of leaving debt for our children and our grandchildren and our great-grandchildren. That's not the responsible way.” (President Obama, Remarks At A Caterpillar Plant, 2/12/09) STIMULUS PACKAGE: Adds $814 Billion To The Debt CBO ON STIMULUS COST: “When ARRA Was Being Considered, The Congressional Budget Office (CBO) And The Staff Of The Joint Committee On Taxation Estimated That It Would Increase Budget Deficits By $787 Billion Between Fiscal Years 2009 And 2019. CBO Now Estimates That The Total Impact Over The 2009–2019 Period Will Amount To $814 Billion.”(“Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From July 2010 Through September 2010,” Congressional Budget Office, 11/10) President Obama During Budget Roll Out: ‘We’re Living Within Our Means’ PRESIDENT OBAMA: “We’re Going To Have To Get Serious About Cutting Back On Those Things That Would Be Nice To Have But We Can Do Without. That’s What Families Across The Country Do Every Day – They Live Within Their Means.” (President Obama, Remarks On Unveiling Of The Budget, 2/14/11) PRESIDENT OBAMA: “[T]he Most Important Thing I Can Do As President Is Make Sure That We’re Living Within Our Means, Getting A Budget That Is Sustainable…” (President Obama, Press Conference, 2/15/11) WHITE HOUSE BUDGET: Grows Debt To Over $20 Trillion Within 5 Years Table S-14. Federal Government Financing And Debt; Total, Gross Federal Debt Actual 2010:                   13,529 [Billion Dollars] 2011 Estimate:              15,476 [Billion Dollars] 2012 Estimate:              16,654 [Billion Dollars] 2013 Estimate:              17,750 [Billion Dollars] 2014 Estimate:              18,761 [Billion Dollars] 2015 Estimate:              19,776 [Billion Dollars] 2016 Estimate:              20,825 [Billion Dollars] 2017 Estimate:              21,867 [Billion Dollars] 2018 Estimate:              22,924 [Billion Dollars] 2019 Estimate:              24,023 [Billion Dollars] 2020 Estimate:              25,165 [Billion Dollars] 2021 Estimate:              26,346 [Billion Dollars] (Fiscal Year 2012 Budget Of The U.S. Government Summary Tables, The White House, 2/14/10, P.203) USA TODAY: “Obama’s Budget Ducks Tough Choices… He Whiffed.” “President Obama likes to talk about those ‘Sputnik moments’ when the nation rises to difficult challenges like the one posed by the Soviet space program in the 1950s. On Monday, he had a chance to turn his federal budget proposal into his own such moment. He whiffed. … It's becoming hard not to conclude that Obama doesn't much care about the debt threat or has decided to wait until after the 2012 elections. Either would be a shame, and economically risky.” (Editorial, “Our View: Obama's Budget Ducks Tough Choices,” USA Today, 2/15/11) THE WASHINGTON POST: “The President Punted. Having been given the chance, the cover and the push by the fiscal commission he created to take bold steps to raise revenue and curb entitlement spending, President Obama, in his fiscal 2012 budget proposal, chose instead to duck. To duck, and to mask some of the ducking with the sort of budgetary gimmicks he once derided.” (Editorial, “President Obama's Budget Kicks The Hard Choices Further Down The Road,” The Washington Post, 2/15/11) ERSKINE BOWLES, Democratic Chairman Of The Fiscal Commission: “The White House Budget Request Goes ‘Nowhere Near Where They Will Have To Go To Resolve Our Fiscal Nightmare.’” (“Obama Spending Plan Criticized For Avoiding Deficit Commission's Major Proposals,”The Washington Post, 2/14/11) ### SENATE REPUBLICAN COMMUNICATIONS CENTER

The White House

Office of the Press Secretary

For Immediate Release

March 02, 2011

Statement by the President on Passage of Further Continuing Appropriations Amendments, 2011 (H.J.RES.44)

I’m pleased that Democrats and Republicans in Congress came together and passed a plan that will cut spending and keep the government running for the next two weeks.  But we cannot keep doing business this way.  Living with the threat of a shutdown every few weeks is not responsible, and it puts our economic progress in jeopardy.  That’s why I’m calling on Democratic and Republican leaders of Congress to begin meeting immediately with the Vice President, my Chief of Staff, and Budget Director so we can find common ground on a budget that makes sure we are living within our means.  This agreement should cut spending and reduce deficits without damaging economic growth or gutting investments in education, research and development that will create jobs and secure our future.  This agreement should be bipartisan, it should be free of any party’s social or political agenda, and it should be reached without delay.