1 00:00:10,333 --> 00:00:11,934 The President: Hi, everybody.

2 00:00:11,934 --> 00:00:14,500 Today, our economy is growing and our businesses

3 00:00:14,500 --> 00:00:17,500 are consistently generating new jobs.

4 00:00:17,500 --> 00:00:19,834 But decades-long trends still threaten

5 00:00:19,834 --> 00:00:21,600 the middle class.

6 00:00:21,600 --> 00:00:24,033 While those at the top are doing better than ever,

7 00:00:24,033 --> 00:00:26,700 too many Americans are working harder than ever,

8 00:00:26,700 --> 00:00:28,099 but feel like they can't get ahead.

9 00:00:29,033 --> 00:00:31,266 That's why the budget I sent Congress earlier this

10 00:00:31,266 --> 00:00:35,300 year is built on the idea of opportunity for all.

11 00:00:35,300 --> 00:00:37,532 It will grow the middle class and shrink the

12 00:00:37,533 --> 00:00:39,333 deficits we've already cut in half since

13 00:00:39,333 --> 00:00:40,333 I took office.

14 00:00:40,900 --> 00:00:43,600 It's an opportunity agenda with four goals.

15 00:00:43,600 --> 00:00:45,500 Number one is creating more good jobs

16 00:00:45,500 --> 00:00:47,066 that pay good wages.

17 00:00:47,066 --> 00:00:49,000 Number two is training more Americans with

18 00:00:49,000 --> 00:00:51,300 the skills to fill those jobs.

19 00:00:51,300 --> 00:00:53,333 Number three is guaranteeing every

20 00:00:53,333 --> 00:00:56,233 child access to a great education.

21 00:00:56,233 --> 00:00:59,166 And number four is making work pay - with wages

22 00:00:59,166 --> 00:01:02,000 you can live on, savings you can retire on,

23 00:01:02,000 --> 00:01:05,533 and health care that's there for you when you need it.

24 00:01:05,533 --> 00:01:07,967 This week, the Republicans in Congress put forward

25 00:01:07,967 --> 00:01:08,967 a very different budget.

26 00:01:08,967 --> 00:01:12,100 And it does just the opposite: it shrinks

27 00:01:12,100 --> 00:01:14,500 opportunity and makes it harder for Americans

28 00:01:14,500 --> 00:01:16,166 who work hard to get ahead.

29 00:01:17,133 --> 00:01:19,232 The Republican budget begins by handing out

30 00:01:19,233 --> 00:01:22,000 massive tax cuts to households making more

31 00:01:22,000 --> 00:01:24,500 than $1 million a year.

32 00:01:24,500 --> 00:01:27,333 Then, to keep from blowing a hole in the deficit,

33 00:01:27,333 --> 00:01:29,367 they'd have to raise taxes on middle-class

34 00:01:29,367 --> 00:01:31,633 families with kids.

35 00:01:31,633 --> 00:01:34,567 Next, their budget forces deep cuts to investments

36 00:01:34,567 --> 00:01:36,600 that help our economy create jobs,

37 00:01:36,600 --> 00:01:38,899 like education and scientific research.

38 00:01:39,900 --> 00:01:40,934 Now, they won't tell you where

39 00:01:40,934 --> 00:01:42,066 these cuts will fall.

40 00:01:42,066 --> 00:01:45,600 But compared to my budget, if they cut everything

41 00:01:45,600 --> 00:01:47,734 evenly, then within a few years, about

42 00:01:47,734 --> 00:01:52,899 170,000 kids will be cut from early education programs.

43 00:01:52,900 --> 00:01:55,400 About 200,000 new mothers and kids will

44 00:01:55,400 --> 00:01:58,934 be cut off from programs to help them get healthy food.

45 00:01:58,934 --> 00:02:01,166 Schools across the country will lose funding that

46 00:02:01,166 --> 00:02:04,533 supports 21,000 special education teachers.

47 00:02:04,533 --> 00:02:07,133 And if they want to make smaller cuts to one

48 00:02:07,133 --> 00:02:10,233 of these areas, that means larger cuts in others.

49 00:02:11,000 --> 00:02:12,667 Unsurprisingly, the Republican budget

50 00:02:12,667 --> 00:02:15,333 also tries to repeal the Affordable Care Act -

51 00:02:15,333 --> 00:02:17,500 even though that would take away health coverage

52 00:02:17,500 --> 00:02:19,266 from the more than seven million Americans

53 00:02:19,266 --> 00:02:21,333 who've done the responsible thing and signed

54 00:02:21,333 --> 00:02:23,400 up to buy health insurance.

55 00:02:23,400 --> 00:02:26,133 And for good measure, their budget guts

56 00:02:26,133 --> 00:02:28,500 the rules we put in place to protect the middle

57 00:02:28,500 --> 00:02:30,967 class from another financial crisis like the

58 00:02:30,967 --> 00:02:33,100 one we've had to fight so hard to recover from.

59 00:02:34,433 --> 00:02:37,100 Policies that benefit a fortunate few while making

60 00:02:37,100 --> 00:02:39,799 it harder for working Americans to succeed

61 00:02:39,800 --> 00:02:42,000 are not what we need right now.

62 00:02:42,000 --> 00:02:44,700 Our economy doesn't grow best from the top-down;

63 00:02:44,700 --> 00:02:46,966 it grows best from the middle-out.

64 00:02:46,967 --> 00:02:49,400 That's what my opportunity agenda does -

65 00:02:49,400 --> 00:02:51,934 and it's what I'll keep fighting for.

66 00:02:51,934 --> 00:02:52,934 Thanks.

67 00:02:52,934 --> 00:02:53,934 And have a great weekend.