President Obama Pledges Spending Cuts Down to Eisenhower Era

By:  Bob Adelmann
07/20/2011
       
President Obama Pledges Spending Cuts Down to Eisenhower Era

At last Friday’s press conference, President Obama reviewed the status of talks with Republicans over the debt ceiling and reiterated his determination to “get our fiscal house in order.” He added:

"We have a unique opportunity to do something big. We have a chance to stabilize America’s finances for a decade, for 15 years, or 20 years, if we’re willing to seize the moment."

"Now, what that would require would be some shared sacrifice and a balanced approach that says we’re going to make significant cuts in domestic spending. And I have already said I am willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower.”(emphasis added)

At last Friday’s press conference, President Obama reviewed the status of talks with Republicans over the debt ceiling and reiterated his determination to “get our fiscal house in order.” He added:

"We have a unique opportunity to do something big. We have a chance to stabilize America’s finances for a decade, for 15 years, or 20 years, if we’re willing to seize the moment."

"Now, what that would require would be some shared sacrifice and a balanced approach that says we’re going to make significant cuts in domestic spending. And I have already said I am willing to take down domestic spending to the lowest percentage of our overall economy since Dwight Eisenhower.”(emphasis added)

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