The Democratic Budget: Unbalanced Balance?

President Obama's plan won't include balanced budget.
4:09 | 03/12/13

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Transcript for The Democratic Budget: Unbalanced Balance?
You talk about the need for balance and many times when president has put out some entitlement reforms -- critical part of balance. You expect. You hope when the senate Democrats released their budget tomorrow. It has its entitlement reforms -- -- -- what president. Well I always I will wait for the the budget to be put forward and senator Murray to do that we do expected to be balanced that 22. Have the principle -- balance inherent in its proposals. If it's not. And I don't expect it will be in agreement on every item of the president's proposal but I'm but it will be consistent with. The president's balanced approach we expect will fall short doesn't happen entitlement reforms. Six they put out again I -- I haven't seen yet and I would wait until it's put forward but I would simply say that. It will be. Consistent. In terms of balance we expect. That is the where it would strongly differentiates be differentiated from the house Republicans. And the president -- senate Democrats for. Pursuing a budget that includes the balance that he believes is necessary to publicly is necessary. The Bowles Simpson commission have has long since may -- necessary. And so we look forward to working with senate Democrats and senate Republicans and everyone. And on Capitol Hill including house Republicans and house Democrats. In hopes of achieving -- a compromise that achieves that it did did it has within it the balance it is essential because that's what's so instructive about the budget proposal from chairman -- is that it. It really does make the case for balance because if you don't have to -- if instead of asking the wealthiest to contribute to deficit reduction you say. We'd like to give the wealthiest. A huge tax cut. The result is that everybody else the burden is doubled or tripled on everyone else. And and that just doesn't seem fair and it's also not good. Economics recent bounce could be balanced. Me are I didn't outfit on deficit reduction that includes we're asking you now I'm like hey there. -- we know what the president's budget proposal will do as his previous proposals have done is achieve the economically important. Goal. Bringing our. Debt to GDP down below 3%. That was the target set under the Erskine Bowles and Alan Simpson commission president's fiscal commission. It is the target widely recognized by economists as. -- necessary goal we talk about getting our fiscal house in order. And it is a goal is achievable. In a way -- also allows other goals to be achieved like investing in our economy so that -- grows. -- building roads and bridges so that -- competitive with Europe and China and India. And investing in education so your children in mind. Our. Getting the jobs that -- the best and they're getting those jobs here in the United States. In 25 and thirty years. You know those -- that that's why the president is never viewed it. -- -- proposals as. Or proposals in negotiations for deficit reduction. As having as their only goal deficit reduction they have to deficit reduction is an absolutely important goal and it is important to bring our deficits down and to reduce our. Debt to GDP. But they are part those goals are part of the broader purpose here which is to grow the economy and strengthen the middle class. And if you. -- one without the other two. You have not done right by the middle class of the country and you probably have. Undermined. The future economy of the United States so. That's -- the president's focus has been on balance. On the important goal deficit reduction gets signed into law as you know John two and a half trillion dollars -- deficit reduction thus far. And he looks forward to working with congress to. Bring that total to -- -- four trillion dollars which in turn if done in a balanced way will achieve the goals that I just laid out.

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