President Obama Delivers Remarks About Budget

The president says it is "designed with future generations in mind."
3:00 | 03/04/14

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Transcript for President Obama Delivers Remarks About Budget
Good morning everybody. I -- here at Powell elementary school and just had a chance to receive some of these outstanding students here. Not -- photos -- -- -- -- for me to say a few words about the budget that I sent to congress this morning. Because obviously the budget. Is not just about numbers it's about our values. It's about our future and how well we are. Laying the ground work for those young children -- -- -- just few moments ago to be able to succeed. Here in America. These kids may not be the most excited people in town on budget day. But my budget is designed. -- their generation and future generations in mind. In my State of the Union Address I laid out an agenda to restore opportunity. For all people. -- uphold the principle that no matter who you are no matter where you started you can make it if you tried here in America. This opportunity agenda is built on four parts. More good jobs at good wages. Making sure the work training workers with the skills they need to get those good jobs. I guarantee every child access to a world class education and making sure that. Our economy as one in which hard work is -- The budget -- -- congress this morning lays out how will implement this agenda in a balance and responsible way. It's a road map for creating jobs with good wages and expanding opportunity for all Americans. At a time when our deficits been cut in half. It allows us to meet our obligations to future generations without leaving them a mountain of debt. This budget adheres to the spending levels that both parties in both houses of congress party agreed to but it also builds on that progress we have. What we're calling an opportunity growth and security initiative. That invests in our economic priorities and a Smart way that is fully paid for by making Smart spending cuts and closing tax loopholes that. Right now only benefit the well off and welcome back to. -- to be an example. Right now our tax system provides benefits to wealthy individuals who say even after they've amassed multimillion dollar. Retirement accounts. My closing that loophole. We can help create jobs and grow the economy and expand opportunity without. Having a dime to the -- We know that the country that wins the race for new technologies will win the race for new jobs so this budget -- 45. Hi tech manufacturing hubs where businesses and universities will partner to turn groundbreaking research into new industries and new jobs. Made in America. We know. And as burglaries -- we're here today that education. Has to start the earliest possible -- -- this budget expands access to. The kind of high quality preschool. And other learning programs to give all of our -- the same kinds of opportunities that. Those wonderful children that we just saw are getting it right here Powell. We know that while not all of two days good jobs are gonna work or -- your college degree. More more of them are gonna -- some form of higher education -- specialized training so. This budget expands apprenticeships to connect more ready to work Americans with ready to -- -- jobs. And we know that future generations will continue to deal -- -- affects global warming planet. This budget proposes a smarter way to address the cost of wildfires. And includes over one billion dollars in new funding for new technologies to help communities prepare. For changing climate today. And set up incentives to build smarter and more resilient infrastructure. We also know that the most effective. And historically bipartisan. Ways to reduce poverty and help hardworking families pull themselves up as the earned income tax credit. Right now it helps about half of all parents in America at some point in their lives. This budget gives millions more workers the opportunity to take advantage of the tax credit. And -- -- it pays for. By closing loopholes like the ones that let wealthy individuals class -- themselves as a small business to avoid paying their fair share of taxes. This budget will also continue to put our fiscal house in order over the long term. -- by putting the burden on folks who can least afford it but by reforming our tax code. And our immigration system and building on the progress we've made to reduce health care costs under the affordable care. And it puts our debt on a downward path. As a share of our total economy which independent experts have said as a critical target for fiscal responsible. As I -- of the outset. Our budget. Is about choices. It's about our values. As a country we've got to make a decision if we're gonna protect tax breaks for the wealthiest Americans or we're gonna make Smart investments necessary to create jobs and grow our economy. And expand opportunity for every American. Tom what our deficits are falling of the fastest rate in sixty years. We've got to decide if -- keep squeezing middle class or -- gonna continue to reduce deficits responsibly. While taking steps to grow and strengthen the middle class. The American people have made it clear time and again which approach they prefer that's the approach that my budget offers that's -- I'm -- fight -- This year and in the years to come as president thank you very much -- -- -- Press conference this morning. -- right he's lost touch you know -- I haven't spoken -- -- -- spoke during this past weekend but obviously. -- -- -- my national security team have been watching. Events unfolding in Ukraine very closely I met with him again today. As many of you know John Kerry is and -- as we speak. At my direction he's expressing our full support for the Ukrainian people. Over the past several weeks we've -- been working. -- our partners and with the IMF. To build international support for. A package that helps to stabilize Ukraine's economy. And today we announced a significant package of our -- to support. The Ukraine's economy. And also to provide them with the technical assistance that they need so it includes a a planned loan guarantee package of one billion dollars. It did provides immediate technical expertise to. Ukraine to repair its economy and importantly. It provides for assistance to help Ukraine plan for elections that are going to be coming up very soon. -- -- as I said yesterday. It is important that congress stand -- us. I. Don't -- the bipartisan concern that's been expressed about the situation in the Ukraine there's something immediately congress can do to help us matters to help finance. The economic package that could stabilize. The economy in Ukraine helped to make sure that fair free elections take place very soon and as a consequence. Helps to. In the meantime -- consulting -- -- our international allies across the board. Together the international community. It has condemned. Russia's violation of the territorial integrity and sovereignty of Ukraine. We've condemned their intervention in Crimea. And we are calling for -- and above all we believe that the Ukrainian people should be able to decide. Their own future. Which is why the world should be focused on helping them stabilize the situation economically. And move towards the fair and free elections that are currently scheduled take place in May. There have been some reports that. Present -- is. Pausing for a moment and reflecting on what's happened I think that we've all seen. That. From the perspective of the European Union the United States. Allies like Canada and Japan. And allies and friends and partners around the world there is a strong belief that Russia's action is violating international law. I don't President -- seems to have a different -- lawyers make a difference out of interpretations but. I don't think that's -- anybody I think everybody recognizes. That. Although Russia has. Legitimate interests. In what happens in neighboring state that does not give it. The right to use force as means of exerting influence inside of that state. We have said that if in fact there is any evidence out there that. Russian speakers -- Russian native reserve Russian nationals -- in any -- being threatened. There -- ways of dealing with through international mechanisms. And were prepared to make sure that the rights of all ukrainians. Are upheld and in fact in conversations that we've had with the government. And give -- they have been. More than willing to work with the international community and what Russia. To provide such assurances. So the fact is that we are still saying soldiers out of their barracks. In Crimea. Is an indication. To which. What's happening there is not based on actual concern for. Russian nationals or. Russian speakers -- -- of Ukraine is based on Russia seeking through force. To exert influence on a neighboring country that is not how international laws supposed to operate. I would also note just. -- The way that. Some of this has been reported. The suggestion somehow that. The Russian actions have been. Clever strategically. Actually think that this is not -- a sign of a strength but rather. Is a reflection that. Countries near Russia. Have deep concerns and suspicions about this kind of meddling -- if anything it would push. Many countries further away from Russia. There is the ability for Ukraine to be a friend of the west's. And -- friend Russians as long as none of us are in. Inside of Ukraine trying to -- And -- certainly not militarily with decisions are properly belong to the Ukrainian people and that's the principle that. John Kerry is going to be. Speaking to him during his visit. -- be making additional calls today to summer key foreign partners and I suspect I'll be doing that all -- -- in through the weekend. But as I indicated yesterday. The other course of history is for people to want to be free to make their own decisions about their own futures. And the international community. I think is unified in believing that. It is not. The role of an outside force. Where there's been no evidence. Serious violence where there's been no. Rationale under international. To intervene and people try to determine their own -- So we stand on the side of history that. I think more -- more people around the world deeply believe the principle that. A sovereign people an independent people are able to make their own decisions about their own lives. And -- -- mr. prove you can. For a lot of words out there but the facts on the ground indicate that right now he's not abiding by. By that principle. There is still -- opportunity for Russia to -- -- working with the international community to help stabilize the situation and we've sent a clear message that. We are prepared to work with anybody. If they're genuine interest is making sure that Ukraine. Is able to govern itself. And as I indicated before and something that I think has not been emphasized enough they are currently scheduled. To have. Elections in -- And everybody in the national community should be invested in making sure that. The economic. Deterioration -- avenue Quinn stops but also that. These elections. Proceed in a fair and -- way in which all ukrainians. Including. Russian speakers. Inside of Ukraine are able to express their choice of who should lead them. And if we have a strong. Robust legitimate election. Then there shouldn't be any question as to whether. The Ukrainian people are. Govern themselves. Without the kinds of outside interference that -- -- pressures are. Thank you very much -- right.

This transcript has been automatically generated and may not be 100% accurate.

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