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Obama's Deficit Speech (Transcript)

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President Obama’s speech, “The Country We Believe In,” at George Washington University, as prepared for delivery, April 13, 2011.

  • “So here’s the truth. Around two-thirds of our budget is spent on Medicare, Medicaid, Social Security, and national security. Programs like unemployment insurance, student loans, veterans’ benefits, and tax credits for working families take up another 20%. What’s left, after interest on the debt, is just 12 percent for everything else. That’s 12 percent for all of our other national priorities like education and clean energy; medical research and transportation; food safety and keeping our air and water clean.”
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