Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

Retail therapy with a side of fries

Oct 21, 2019

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report

Brexit déjà vu

Oct 21, 2019
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Tech
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
This Is Uncomfortable
Federal Budget

President Obama defends his 2012 budget

John Dimsdale Feb 15, 2011
Share Now on:
HTML EMBED:
COPY

TEXT OF STORY

Kai Ryssdal: President Obama took to the podium this morning to defend his budget. He’s been getting it from both sides of the aisle for taking only a tepid stab at the huge financial hole the federal government has dug. Fact is, almost whatever was in the budget yesterday was going to be criticized.

But the president already had a bipartisan roadmap for fixing the big problems, a roadmap that he mostly ignored. Our Washington bureau chief John Dimsdale reports.


John Dimsdale: Remember the president’s Fiscal Reform Commission? Back in December, it produced a roadmap for bringing deficits under control. There were tough spending cuts, entitlement and tax reforms. At the time, President Obama praised the commission’s work. But very little of it ended up in yesterday’s budget. When the president’s budget director went to Capitol Hill this morning, the Republican committee chairman Paul Ryan wanted to know what happened.

Paul Ryan: I think the fact the president even gave us this fiscal commission to start with acknowledged we agree on the size, the scope and the nature of the problem. Why did you duck? Why are you not taking this opportunity to lead?

Down the street, at a White House news conference, Obama insisted he still values the commission’s plan.

Barack Obama: The notion that its been shelved I think is incorrect. It still provides a framework for a conversation.

A conversation, he says, that will take some time. But former Congressional Budget Office director Rudolph Penner says time is running out.

Rudolph Penner: If he had just a little more courage, he would have talked more about the seriousness of the budget problem. He’s been extremely politically cautious but I would argue he’s also been very reckless with the economy.

Because if there’s not a plan soon to attack the long-term deficit, Penner says buyers of the federal government’s debt will look elsewhere. Overall those foreign investments are up, but just this week China announced it was scaling back U.S. bond-buying for the second month in a row.

In Washington, I’m John Dimsdale for Marketplace.

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Check Your Balance ™️
Check Your Balance ™️
Personal finance from Marketplace. Where the economy, your personal life and money meet.

Thank you to all the donors who made our fall drive a success!

It’s Investors like you that keep Marketplace going strong!