“I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight as we speak. My message to them is this: So am I," said the president.

In his weekly address to the nation from the White House Blog on Saturday, February 28, 2009, President Obama discussed how his proposed budget fulfills his campaign promises. His message focused on reforms to the tax code, clean energy, health care reform and education. The president said that his budget proposal helps working class Americans and that Washington had for too long been run by special interest and lobbyist.

In short, the president’s budget:

• Rolls back taxes for those making under $250,000 a year
• Closes tax loops for multinational corporations who outsource jobs overseas
• Encourages investment in renewable energy such as:
  • wind and solar power
  • advanced bio fuels
  • clean coal
  • and encourages the reduction in dependency on foreign oil by developing fuel efficient American cars and trucks.
• Reduces health care costs which will lead to higher quality and affordable health care
• Reforms education by providing for new incentives for teachers.
• Provides tax credits to make college more affordable
  • Provides new support for those in college

The president reminded us that he inherited the trillion dollar deficit, the banking and credit crisis and the current recession. The solution would be belt tightening by government. He said he would go line by line over the budget and that he had already found a way to save over two trillion dollars in the next decade.

This budget will require insurance companies to bid for Medicare coverage, end taxpayer subsidies to banks for student loans and end $30 billion in tax breaks for the oil companies.

The president is gearing up for the challenges from the entrenched lobbyist who represent the interest of the wealthy and powerful. He expects challenges from insurance companies, oil companies and banks that are all too used to a rubber stamp presidency.

The president said “In other words, I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight as we speak. My message to them is this: So am I.”