President Barack Obama Addresses Deficit Reduction at The George Washington University

President Barack Obama announced his deficit reduction plan Wednesday at the George Washington University, calling for a mix of tax increases for the wealthiest Americans and spending cuts that would lower the federal deficit by $4 trillion over the next 12 years.

During a 43-minute speech in the Jack Morton Auditorium, President Obama outlined his plan for reducing the nation's debt while continuing to support economic recovery and protect entitlement programs such as Medicare and Medicaid.

"We have to live within our means, reduce our deficit and get back on a path that will allow us to pay down our debt. And we have to do it in a way that protects the recovery and protects the investments we need to grow, create jobs and win the future," said President Obama.

Before a packed auditorium, President Obama thanked GW President Steven Knapp and told GW students it was great to be back on campus. The president held a town hall meeting at the Marvin Center last fall leading up to the midterm elections.

"I want you to know that one of the reasons I kept the government open was so I could be here today with all of you. I wanted to make sure you had one more excuse to skip class. You're welcome," President Obama joked.

Category:

Education

Tags:

• George Washington University
• Barack Obama
• President of the United States
• GW
• Foggy Bottom
• Politics
• Washington DC
• Higher Education
• Jack Morton Auditorium
• Economics
• Deficit Reduction
• Medicare
• Medicaid
• college
• election
• economic
• educational
• defense

[lovelplants]

bravo for the president..

[WolfmanMusic]

Rock on Obama! Long live The Truth! Barak Obama 2012! 4 more years!

[xoxak888]

I think the weakness of Republican party is that they are protective on super riches. And Democrats weakness is that they are protective on illegal immigrants.  Our nation is in so much trouble and we have to do not only one or two things but 10 or 20 things all at once to ensure future survival of this great nation. But, I don't think our current debt problem is fixable because nobody can touch medicare and social security without upsetting seniors.

[shoop91lee]

@bilingworm

Massachusetts has had a health care bill since 2006, and was put in place by a republican (Mitt Romney) Romney has said himself that his health care is so successful because it is for a smale scale state, not a whole nation. He has gone on to say that the health care bill will not succeed for a nation.

[bilingworm]

Massachusetts is already trying the new way of paying for health care, I hope it works! We all need to do our part by staying healthier - eating less, being active in our communities instead of watching TV, and taking care of any problems through preventive care.

I love Obama's vision of society! We can be good to each other instead of letting the rich grow richer than any person ever needs to be, while millions starve and suffer.

[mangymullett]

17:30 - whats a fundally?

[ansionsore]

P.S. - You are right Mr. President, we can't afford the kind of America that we have had. It's sad to say, and I'm not arguing for some of the more aggressive budget proposals, but only with their origin; that is, we have spent too much of our lunch money on snacks, and now we can't afford the sustenance that we need. I eat Ramen noodles sometimes, not because I think they're delicious (or nutritious), but because they are a 10 cent lunch.

[ansionsore]

We do not need extra money in our pockets or "flowing credit". We need to stop spending. Government and citizens. We need to manufacture goods for other countries to buy. Somehow jobs can only be created if Americans have money to buy what is produced by said jobs. We need to export. Also, I would love to know what the President means by "temporarily borrow". Does he mean we paid it back already? We are still borrowing, and none of it is temporary; we have no clue how to pay it back.