Obama hails G-20 progress as Republicans continue attacks on the budget
The President faced several daunting challenges in London, including earning support for broader stimulus packages in other countries, and projecting the view of a strong America capable of asserting global leadership.
The President used his weekly address to help explain how the week's challenging work related to America's future. "If people in other countries cannot spend," Obama said, "that means they cannot buy the goods we produce here in America, which means more lost jobs and more families hurting."
The President said that working with other nations to stabilize the global financial system presented "the challenge of our time." "Ultimately," he said, "the only way out of a recession that is global in scope is with a response that is global in coordination."
Congressman Paul Ryan, the ranking member of the House Budget Committee, defended the alternate budget this week proposed by Congressional Republicans, characterizing it as a measured and appropriate response during a time of fiscal crisis.
"Our budget gives priority to national defense and veterans health care," he explained. "We freeze all other discretionary spending for five years we enact a spending cap backed up by tough budget enforcement. American families are making sacrifices and tightening their belts Washington should do the same. Our budget also takes steps toward health care reform and retirement security."
By contrast, Ryan warned that the President's budget would make the crisis "much much worse."
"America is not the greatest nation on Earth by chance," he said. "We earned this greatness by rewarding individual achievement, by advancing and protecting natural rights, and by embracing freedom. Our budget reflects those principles, and we offer the American people a better way forward."
— Tricia Perry









