“In these challenging times, when we are facing both rising deficits and a sinking economy, budget reform is not an option,” Mr. Obama said. “It’s a necessity.”...
“I don’t think that there’s any question that we have a mandate to move the country in a new direction and not continue the same old practices that have gotten us into the fix that we’re in,” Mr. Obama said.
“But I won 53 percent of the vote. That means 46 or 47 percent of the country voted for John McCain,” he added. “It’s important, as I said on election night, that we enter into the new administration with a sense of humility and a recognition that wisdom is not the monopoly of any one party.”...
He did not offer any other specific targets, and by itself, correcting the problem with the farm program would make an undetectable dent in the government’s soaring deficits. After the financial recovery is under way, Mr. Obama said, the chase after wasteful spending will begin in earnest.
“Just because a program, a special interest tax break or corporate subsidy is hidden in this year’s budget does not mean that it will survive the next,” he said. “The old ways of Washington simply can’t meet the challenges of today and tomorrow.”
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