President Obama's Weekly Address (2/26/11)

This week, President Obama outlined his goals for an evenhanded approach to cutting the deficit. In doing so, President Obama offered his attempts to get the ball rolling on domestic spending by highlighting his proposed five year budget freeze. President Obama also remained open to further cuts in areas such as defense, Medicare and Medicaid, and tax breaks and loopholes.

President Obama finished his address by cautioning against political stalemates in Washington, and stressing the need for both parties to work together on a short-term budget:

"Next week, Congress will focus on a short-term budget. For the sake of our people and our economy, we cannot allow gridlock to prevail.

Both Democratic and Republican leaders in the House and Senate have said they believe it's important to keep the government running while we work together on a plan to reduce our long-term deficit. Given that, I urge and expect them to find common ground so we can accelerate, and not impede, economic growth."

President Obama's Weekly Address: