President Obama’s plans won’t balance the federal budget in the coming decade, he said Tuesday, stressing that his top priority is growing the economy and not a balanced budget.
“My goal is not to chase a balanced budget just for the sake of balance. 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,” he said in an interview with ABC News’s George Stephanopoulos.
Obama said he’s opposed to House Budget Committee Chairman Paul Ryan’s budget plan released Tuesday, which would balance the budget in a decade.
“We’re not gonna balance the budget in ten years because if you look at what Paul Ryan does to balance the budget, it means that you have to voucher-ize Medicare, you have to slash deeply into programs like Medicaid, you’ve essentially got to either tax middle class families a lot higher than you currently are or you can’t lower rates the way he’s promised.”