Obama Suggests There’s No Place to Cut in the Federal Budget
BARACK OBAMA: "If sequester stays in place, not only our ability to spend for education or help families with student loans, but also things like early childhood education, head start programs, Pell grants, all those things can be adversely affected. This is one thing I would ask everybody to consider. When you hear budget debates, I know your eyes glaze over. But the federal budget is where we express our values. A lot of times, people say we should just cut government spending because there is all this waste. But in fact, the vast majority of government spending is for social security. It is for medicare, medicaid. It is for helping vulnerable populations, and it is for defense. And not a lot is left over for helping middle-class families send their kids to college or to save. If you have this ceiling, this artificial cap, without taking into account the growing population and more young people going to college, you end up with a situation in which fewer people are getting help. That is why it is important for us to lift this artificial cap. It is also why it is important for us to close some of these tax loopholes going to either the very wealthy or the corporations that really don't need them because they are doing just fine and not having a problem financing their college educations."