President Obama announces 2014 budget proposal

Shawna Shepherd/CNN


by Chris Patterson

(CNN) -- President Barack Obama said Wednesday his budget proposal for 2014 is a "fiscally responsible blueprint for middle class jobs and growth." He said the budget is an answer to a debate that he says is waged yearly in Washington between those who want to "reduce deficits at all costs" and those who want to invest in programs that create jobs. With this budget, Obama said, "we can grow the economy and shrink our deficits."

President Barack Obama, while announcing his 2014 budget proposal, said that if politicians are serious about deficit reduction, then the tax code needs to be reformed so that corporations and wealthy individuals don't continue to take advantage of tax loopholes. "If you're serious about deficit reduction, there's no excuse to keep these loopholes open. ... All they do is to allow folks who are already well off and well connected to game the system." Obama also said that "if anyone thinks I'll finish the job on the backs of middle class families ... they should think again. I've already met Republicans halfway."

President Barack Obama said Wednesday that his 2014 budget proposal replaces previously imposed forced budget cuts "with smarter ones" that will be less damaging to middle class Americans. He also said that many of the politicians who supported the forced cuts "are the ones who complain about them the loudest as they hit their own communities."


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