Obama news conference: President says his budget will help prevent future woes
You've got to spend money to make money. Or at least to get the country out of recession.
That's the gist of some of President Obama's prepared remarks he's delivering right now in his second White House news conference. "Spend," however, is not the word of choice. According to the president, the key is to "invest."
You've got to spend money to make money. Or at least to get the country out of recession.
That's the gist of some of President Obama's prepared remarks he's delivering right now in his second White House news conference. "Spend," however, is not the word of choice. According to the president, the key is to "invest."
An example:
The budget I submitted to Congress will build our economic recovery on a stronger foundation, so that we do not face another crisis like this 10 or 20 years from now. We invest in the renewable sources of energy that will lead to new jobs, new businesses, and less dependence on foreign oil.
We invest in our schools and our teachers so that our children have the skills they need to compete with any workers in the world. We invest in reform that will bring down the cost of healthcare for families, businesses and our government. And in this budget, we have made the tough choices necessary to cut our deficit in half by the end of my first term –- even under the most pessimistic estimates.
And in case you didn't get the point, Obama has more to say about investing:
At the end of the day, the best way to bring our deficit down in the long run is not with a budget that continues the very same policies that have led to a narrow prosperity and massive debt. It’s with a budget that leads to broad economic growth by moving from an era of borrow and spend to one where we save and invest.
-- Steve Padilla
Nagesh.MVS.
