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March 12, 2013

Obama: Won't balance budget just for the sake of balance

President Obama said today he wouldn't balance the budget in the next 10 years "just for the sake of balance," but instead wants to grow the economy and boost revenue.

"My goal is not to chase a balanced budget just for the sake of balance," Obama told ABC News. "My goal is how do we grow the economy, put people back to work, and if we do that we are going to be bringing in more revenue."

Obama dismissed a budget proposal unveiled today by House Budget Committee chair Rep. Paul Ryan, saying it cuts too deeply into social welfare programs: "It means that you have to voucher-ize Medicare, you have to slash deeply into programs like Medicaid," he said.

The interview came in the midst of Obama's outreach to Congress: he visited Capitol Hill today and returns Wednesday to meet with House Republicans. On Thursday, he'll meet with Senate Republicans.

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