• Obama's Remarks on Unveiling of the 2012 Federal Budget (Full Text)

    The following is a White House Transcript of President Barack Obama's remarks on the unveiling of his proposal for the U.S. 2012 fiscal year federal budget as delivered at Parkville Middle School and Center for Technology in Baltimore, Maryland on February 14, 2011.
  • U.S. President Barack Obama speaks about the budget during his visit to Parkville Middle School and Center of Technology in Parkville, Maryland February 14, 2011. At right is OMB Director Jack Lew.

    Obama: 2012 Budget is 'down payment,' long term challenges loom

    Seeking to balance cuts while maintaining U.S. competitiveness and facing pressure from Republicans seeking even bigger reductions, President Barack Obama said on Monday his proposed 2012 budget was a down payment, on reducing the federal budget deficit, but said more work was needed to address long term challenges.