THE_AT BUDGET_NN1 MESSAGE_NN1 OF_IO THE_AT PRESIDENT_NN1 To_II the_AT Congress_NN1 of_IO the_AT United_NP1 States_NP1 :_: We_PPIS2 begin_VV0 a_AT1 new_JJ year_NNT1 at_II a_AT1 moment_NN1 of_IO continuing_JJ challenge_NN1 for_IF the_AT American_JJ people_NN ._. 
Even_RR as_CSA we_PPIS2 recover_VV0 from_II crisis_NN1 ,_, millions_NNO2 of_IO families_NN2 are_VBR still_RR feeling_VVG the_AT pain_NN1 of_IO lost_JJ jobs_NN2 and_CC savings_NN2 ._. 
Businesses_NN2 are_VBR still_RR struggling_VVG to_TO find_VVI affordable_JJ loans_NN2 to_TO expand_VVI and_CC hire_VVI workers_NN2 ._. 
Our_APPGE Nation_NN1 is_VBZ still_RR experiencing_VVG the_AT consequences_NN2 of_IO a_AT1 deep_JJ and_CC lasting_JJ recession_NN1 ,_, even_RR as_CSA we_PPIS2 have_VH0 seen_VVN encouraging_JJ signs_NN2 that_CST the_AT turmoil_NN1 of_IO the_AT past_JJ 2_MC years_NNT2 is_VBZ waning_VVG ._. 
Moving_VVG from_II recession_NN1 to_II recovery_NN1 ,_, and_CC ultimately_RR to_II prosperity_NN1 ,_, remains_VVZ at_II the_AT heart_NN1 of_IO my_APPGE Administration_NN1 's_GE efforts_NN2 ._. 
This_DD1 Budget_NN1 provides_VVZ a_AT1 blueprint_NN1 for_IF the_AT work_NN1 ahead_RL ._. 
But_CCB in_BCL21 order_BCL22 to_TO understand_VVI where_RRQ we_PPIS2 are_VBR going_VVG in_II the_AT coming_JJ year_NNT1 ,_, it_PPH1 is_VBZ important_JJ to_TO remember_VVI where_RRQ we_PPIS2 started_VVD just_RR 1_MC1 year_NNT1 ago_RA ._. 
Last_MD January_NPM1 ,_, the_AT United_NP1 States_NP1 faced_VVD an_AT1 economic_JJ crisis_NN1 unlike_II any_RR we_PPIS2 had_VHD known_VVN in_II generations_NN2 ._. 
Irresponsible_JJ risk-taking_NN1 and_CC debt-fueled_JJ speculation_NN1 --_JJ unchecked_JJ by_II sound_NN1 oversight_NN1 --_NN1 led_VVN to_II the_AT near-collapse_NN1 of_IO our_APPGE financial_JJ system_NN1 ._. 
Our_APPGE Gross_JJ Domestic_JJ Product_NN1 (_( GDP_NN1 )_) was_VBDZ falling_VVG at_II the_AT fastest_JJT rate_NN1 in_II a_AT1 quarter-century_NNT1 ._. 
Five_MC trillion_NNO dollars_NNU2 of_IO Americans_NN2 '_GE household_NN1 wealth_NN1 had_VHD evaporated_VVN in_II just_RR 12_MC weeks_NNT2 as_CSA stocks_NN2 ,_, pensions_NN2 ,_, and_CC home_NN1 values_NN2 plummeted_VVD ._. 
We_PPIS2 were_VBDR losing_VVG an_AT1 average_NN1 of_IO 700,000_MC jobs_NN2 each_DD1 month_NNT1 ,_, equivalent_JJ to_II the_AT population_NN1 of_IO the_AT State_NN1 of_IO Vermont_NP1 ._. 
The_AT capital_NN1 and_CC credit_NN1 markets_NN2 ,_, integral_JJ to_II the_AT normal_JJ functioning_NN1 of_IO our_APPGE economy_NN1 ,_, were_VBDR virtually_RR frozen_VVN ._. 
The_AT fear_NN1 among_II economists_NN2 --_NN1 from_II across_II the_AT political_JJ spectrum_NN1 --_NN1 was_VBDZ that_CST we_PPIS2 risked_VVD sinking_VVG into_II a_AT1 second_MD Great_JJ Depression_NN1 ._. 
Immediately_RR ,_, we_PPIS2 undertook_VVD a_AT1 series_NN of_IO difficult_JJ steps_NN2 to_TO prevent_VVI that_DD1 outcome_NN1 ._. 
We_PPIS2 acted_VVD to_TO get_VVI lending_NN1 flowing_VVG again_RT so_CS21 that_CS22 businesses_NN2 could_VM get_VVI loans_NN2 to_TO buy_VVI equipment_NN1 and_CC ordinary_JJ Americans_NN2 could_VM get_VVI financing_VVG to_TO buy_VVI homes_NN2 and_CC cars_NN2 ,_, go_VVI to_II college_NN1 ,_, and_CC start_NN1 or_CC run_VV0 businesses_NN2 ._. 
We_PPIS2 enacted_VVD measures_NN2 to_TO foster_VVI greater_JJR stability_NN1 in_II the_AT housing_NN1 market_NN1 ,_, help_VV0 responsible_JJ homeowners_NN2 stay_VV0 in_II their_APPGE homes_NN2 ,_, and_CC help_VV0 to_TO stop_VVI the_AT broader_JJR decline_NN1 in_II home_NN1 values_NN2 ._. 
To_TO achieve_VVI this_DD1 ,_, and_CC to_TO prevent_VVI an_AT1 economic_JJ collapse_NN1 that_CST would_VM have_VHI affected_VVN millions_NNO2 of_IO additional_JJ families_NN2 ,_, we_PPIS2 had_VHD no_AT choice_NN1 but_CS to_TO use_VVI authority_NN1 enacted_VVN under_II the_AT previous_JJ Administration_NN1 to_TO extend_VVI assistance_NN1 to_II some_DD of_IO the_AT very_JJ banks_NN2 and_CC financial_JJ institutions_NN2 whose_DDQGE actions_NN2 had_VHD helped_VVN precipitate_VVI the_AT turmoil_NN1 ._. 
We_PPIS2 also_RR took_VVD steps_NN2 to_TO prevent_VVI the_AT rapid_JJ dissolution_NN1 of_IO the_AT American_JJ auto_NN1 industry_NN1 --_NN1 which_DDQ faced_VVD a_AT1 crisis_NN1 partly_RR of_IO its_APPGE own_DA making_NN1 --_NN1 to_TO prevent_VVI the_AT loss_NN1 of_IO hundreds_NNO2 of_IO thousands_NNO2 of_IO additional_JJ jobs_NN2 during_II an_AT1 already_RR fragile_JJ time_NNT1 ._. 
Many_DA2 of_IO these_DD2 decisions_NN2 were_VBDR not_XX popular_JJ ,_, but_CCB we_PPIS2 deemed_VVD them_PPHO2 necessary_JJ to_TO prevent_VVI a_AT1 deeper_JJR and_CC longer_JJR recession_NN1 ._. 
Even_RR as_CSA we_PPIS2 worked_VVD to_TO stop_VVI the_AT economic_JJ freefall_NN1 and_CC address_VVI the_AT crises_NN2 in_II our_APPGE banking_NN1 sector_NN1 ,_, our_APPGE housing_NN1 market_NN1 ,_, and_CC our_APPGE auto_NN1 industry_NN1 ,_, we_PPIS2 also_RR began_VVD attacking_VVG the_AT economic_JJ crisis_NN1 on_II a_AT1 broader_JJR front_NN1 ._. 
Less_DAR than_CSN 1_MC1 month_NNT1 after_II taking_VVG office_NN1 ,_, we_PPIS2 enacted_VVD the_AT most_RGT sweeping_JJ economic_JJ recovery_NN1 package_NN1 in_II history_NN1 :_: the_AT American_JJ Recovery_NN1 and_CC Reinvestment_NP1 Act_NN1 ._. 
The_AT Recovery_NN1 Act_NN1 not_XX only_RR provided_VVN tax_NN1 cuts_VVZ to_II small_JJ businesses_NN2 and_CC 95_MC percent_NNU of_IO working_VVG families_NN2 and_CC provided_VVD emergency_NN1 relief_NN1 to_II those_DD2 out_II21 of_II22 work_NN1 or_CC without_IW health_NN1 insurance_NN1 ;_; it_PPH1 also_RR began_VVD to_TO lay_VVI a_AT1 new_JJ foundation_NN1 for_IF long-term_JJ economic_JJ growth_NN1 and_CC prosperity_NN1 ._. 
With_IW investments_NN2 in_II health_NN1 care_NN1 ,_, education_NN1 ,_, infrastructure_NN1 ,_, and_CC clean_JJ energy_NN1 ,_, the_AT Recovery_NN1 Act_NN1 both_RR saved_VVN and_CC created_VVN millions_NNO2 of_IO jobs_NN2 and_CC began_VVD the_AT hard_JJ work_NN1 of_IO transforming_VVG our_APPGE economy_NN1 to_TO thrive_VVI in_II the_AT modern_JJ ,_, global_JJ marketplace_NN1 and_CC reverse_VV0 the_AT financial_JJ decline_NN1 working_VVG families_NN2 experienced_VVN in_II the_AT last_MD decade_NNT1 ._. 
Because_II21 of_II22 these_DD2 and_CC other_JJ steps_NN2 ,_, we_PPIS2 can_VM safely_RR say_VVI we_PPIS2 have_VH0 avoided_VVN the_AT depression_NN1 many_DA2 feared_JJ ,_, and_CC we_PPIS2 are_VBR no_RR21 longer_RR22 facing_VVG the_AT potential_JJ collapse_NN1 of_IO our_APPGE financial_JJ system_NN1 ._. 
But_CCB our_APPGE work_NN1 is_VBZ far_RG21 from_RG22 complete_JJ ._. 
First_MD and_CC foremost_JJT ,_, there_EX are_VBR still_RR too_RG many_DA2 Americans_NN2 without_IW work_NN1 ._. 
The_AT steps_NN2 we_PPIS2 have_VH0 taken_VVN have_VH0 helped_VVN stop_VVI the_AT staggering_JJ job_NN1 losses_NN2 we_PPIS2 were_VBDR experiencing_VVG at_II the_AT beginning_NN1 of_IO last_MD year_NNT1 ._. 
But_CCB the_AT damage_NN1 has_VHZ been_VBN done_VDN ._. 
More_DAR than_CSN seven_MC million_NNO jobs_NN2 were_VBDR lost_VVN since_CS the_AT recession_NN1 began_VVD 2_MC years_NNT2 ago_RA ._. 
This_DD1 represents_VVZ not_XX only_RR a_AT1 terrible_JJ human_JJ tragedy_NN1 ,_, but_CCB also_RR a_AT1 very_RG deep_JJ hole_NN1 from_II which_DDQ we_PPIS2 have_VH0 to_TO climb_VVI out_RP ._. 
Until_CS our_APPGE businesses_NN2 are_VBR hiring_VVG again_RT and_CC jobs_NN2 are_VBR being_VBG created_VVN to_TO replace_VVI those_DD2 we_PPIS2 have_VH0 lost_VVN --_JJ until_CS America_NP1 is_VBZ back_RP at_II work_NN1 --_NN1 my_APPGE Administration_NN1 will_VM not_XX rest_VVI and_CC this_DD1 recovery_NN1 will_VM not_XX be_VBI finished_VVN ._. 
Because_CS an_AT1 educated_JJ workforce_NN1 is_VBZ essential_JJ in_II a_AT1 21st_MD Century_NNT1 global_JJ economy_NN1 ,_, we_PPIS2 are_VBR undertaking_VVG a_AT1 reform_NN1 of_IO elementary_JJ and_CC secondary_JJ school_NN1 funding_NN1 by_II setting_VVG high_JJ standards_NN2 ,_, encouraging_JJ innovation_NN1 ,_, and_CC rewarding_JJ success_NN1 ;_; making_VVG the_AT successful_JJ Race_NN1 to_II the_AT Top_JJ fund_NN1 permanent_JJ and_CC opening_VVG it_PPH1 up_II21 to_II22 innovative_JJ school_NN1 districts_NN2 ;_; investing_VVG in_II educating_VVG the_AT next_MD generation_NN1 of_IO scientists_NN2 and_CC engineers_NN2 ;_; and_CC putting_VVG our_APPGE Nation_NN1 closer_RRR to_II meeting_VVG the_AT goal_NN1 of_IO leading_VVG the_AT world_NN1 in_II new_JJ college_NN1 graduates_NN2 by_II 2020_MC ._. 
Moreover_RR ,_, since_CS in_II today_RT 's_GE economy_NN1 learning_NN1 must_VM last_VVI a_AT1 lifetime_NNT1 ,_, my_APPGE Administration_NN1 will_VM reform_VVI the_AT job-training_JJ system_NN1 ,_, streamlining_VVG it_PPH1 and_CC focusing_VVG it_PPH1 on_II the_AT high-growth_JJ sectors_NN2 of_IO the_AT economy_NN1 ._. 
Because_CS even_RR the_AT best-trained_JJT workers_NN2 in_II the_AT world_NN1 ca_VM n't_XX compete_VVI if_CSW our_APPGE businesses_NN2 are_VBR saddled_VVN with_IW rapidly_RR increasing_JJ health-care_NN1 costs_NN2 ,_, we_PPIS2 're_VBR fighting_VVG to_TO reform_VVI our_APPGE Nation_NN1 's_GE broken_JJ health_NN1 insurance_NN1 system_NN1 and_CC relieve_VV0 this_DD1 unsustainable_JJ burden_NN1 ._. 
My_APPGE Budget_NN1 includes_VVZ funds_NN2 to_TO lay_VVI the_AT groundwork_NN1 for_IF these_DD2 reforms_NN2 --_NN1 by_II investing_VVG in_II health_NN1 information_NN1 technology_NN1 ,_, patient-centered_JJ research_NN1 ,_, and_CC prevention_NN1 and_CC wellness_NN1 --_NN1 as_RG well_RR as_CSA to_TO improve_VVI the_AT health_NN1 of_IO the_AT Nation_NN1 by_II increasing_VVG the_AT number_NN1 of_IO primary_JJ care_NN1 physicians_NN2 ,_, protecting_VVG the_AT safety_NN1 of_IO our_APPGE food_NN1 and_CC drugs_NN2 ,_, and_CC investing_VVG in_II critical_JJ biomedical_JJ research_NN1 ._. 
Because_CS small_JJ businesses_NN2 are_VBR critical_JJ creators_NN2 of_IO new_JJ jobs_NN2 and_CC economic_JJ growth_NN1 ,_, the_AT Budget_NN1 eliminates_VVZ capital_NN1 gains_VVZ taxes_NN2 for_IF investments_NN2 in_II small_JJ firms_NN2 and_CC includes_VVZ measures_NN2 to_TO increase_VVI these_DD2 firms_NN2 '_GE access_NN1 to_II the_AT loans_NN2 they_PPHS2 need_VV0 to_TO meet_VVI payroll_NN1 ,_, expand_VV0 their_APPGE operations_NN2 ,_, and_CC hire_VV0 new_JJ workers_NN2 ._. 
Because_CS we_PPIS2 know_VV0 the_AT nation_NN1 that_CST leads_VVZ in_II clean_JJ energy_NN1 will_VM be_VBI the_AT nation_NN1 that_CST leads_VVZ the_AT world_NN1 ,_, the_AT Budget_NN1 creates_VVZ the_AT incentives_NN2 to_TO build_VVI a_AT1 new_JJ clean_JJ energy_NN1 economy_NN1 --_NN1 from_II new_JJ loan_NN1 guarantees_VVZ that_CST will_VM encourage_VVI a_AT1 range_NN1 of_IO renewable_JJ energy_NN1 efforts_NN2 and_CC new_JJ nuclear_JJ power_NN1 plants_NN2 to_II spurring_VVG the_AT development_NN1 of_IO clean_JJ energy_NN1 on_II Federal_JJ lands_NN2 ._. 
More_RGR broadly_RR ,_, the_AT Budget_NN1 makes_VVZ critical_JJ investments_NN2 that_CST will_VM ensure_VVI that_CST we_PPIS2 continue_VV0 to_TO lead_VVI the_AT world_NN1 in_II new_JJ fields_NN2 and_CC industries_NN2 :_: doubling_VVG research_NN1 and_CC development_NN1 funding_NN1 in_II key_JJ physical_JJ sciences_NN2 agencies_NN2 ;_; expanding_VVG broadband_JJ networks_NN2 across_II our_APPGE country_NN1 ;_; and_CC working_VVG to_TO promote_VVI American_JJ exports_NN2 abroad_RL ._. 
And_CC because_CS we_PPIS2 know_VV0 that_CST our_APPGE future_NN1 is_VBZ dependent_JJ on_II maintaining_VVG American_JJ leadership_NN1 abroad_RL and_CC ensuring_VVG our_APPGE security_NN1 at_II home_NN1 ,_, the_AT Budget_NN1 funds_NN2 all_DB the_AT elements_NN2 of_IO our_APPGE national_JJ power_NN1 --_NN1 including_II our_APPGE military_JJ --_NN1 to_TO achieve_VVI our_APPGE goals_NN2 of_IO winding_VVG down_RP the_AT war_NN1 in_II Iraq_NP1 ,_, executing_VVG our_APPGE new_JJ strategy_NN1 in_II Afghanistan_NP1 ,_, and_CC fighting_VVG al_NP1 Qaeda_NP1 all_RR over_II the_AT world_NN1 ._. 
To_TO honor_VVI the_AT sacrifice_NN1 of_IO the_AT men_NN2 and_CC women_NN2 who_PNQS shoulder_VV0 this_DD1 burden_NN1 and_CC who_PNQS have_VH0 throughout_II our_APPGE history_NN1 ,_, the_AT Budget_NN1 also_RR provides_VVZ significant_JJ resources_NN2 ,_, including_II advanced_JJ appropriations_NN2 ,_, to_TO care_VVI for_IF our_APPGE Nation_NN1 's_GE veterans_NN2 ._. 
Rising_VVG to_II these_DD2 challenges_NN2 is_VBZ the_AT responsibility_NN1 we_PPIS2 bear_VV0 for_IF the_AT future_NN1 of_IO our_APPGE children_NN2 ,_, our_APPGE grandchildren_NN2 ,_, and_CC our_APPGE Nation_NN1 ._. 
This_DD1 is_VBZ an_AT1 obligation_NN1 to_TO change_VVI not_XX just_RR what_DDQ we_PPIS2 do_VD0 in_II Washington_NP1 ,_, but_CCB how_RRQ we_PPIS2 do_VD0 it_PPH1 ._. 
As_CSA we_PPIS2 look_VV0 to_II the_AT future_NN1 ,_, we_PPIS2 must_VM recognize_VVI that_CST the_AT era_NN1 of_IO irresponsibility_NN1 in_II Washington_NP1 must_VM end_VVI ._. 
On_II the_AT day_NNT1 my_APPGE Administration_NN1 took_VVD office_NN1 ,_, we_PPIS2 faced_VVD an_AT1 additional_JJ $7.5_NNU trillion_NNO in_II national_JJ debt_NN1 by_II the_AT end_NN1 of_IO this_DD1 decade_NNT1 as_II a_AT1 result_NN1 of_IO the_AT failure_NN1 to_TO pay_VVI for_IF two_MC large_JJ tax_NN1 cuts_NN2 ,_, primarily_RR for_IF the_AT wealthiest_JJT Americans_NN2 ,_, and_CC a_AT1 new_JJ entitlement_NN1 program_NN1 ._. 
We_PPIS2 also_RR inherited_VVD the_AT worst_JJT recession_NN1 since_CS the_AT Great_JJ Depression_NN1 --_NN1 which_DDQ ,_, even_RR before_CS we_PPIS2 took_VVD any_DD action_NN1 ,_, added_VVD an_AT1 additional_JJ $3_NNU trillion_NNO to_II the_AT national_JJ debt_NN1 ._. 
Our_APPGE response_NN1 to_II this_DD1 recession_NN1 ,_, the_AT Recovery_NN1 Act_NN1 ,_, which_DDQ has_VHZ been_VBN critical_JJ to_II restoring_VVG economic_JJ growth_NN1 ,_, will_VM add_VVI an_AT1 additional_JJ $1_NNU trillion_NNO to_II the_AT debt_NN1 --_NN1 only_RR 10_MC percent_NNU of_IO these_DD2 costs_NN2 ._. 
In_II total_NN1 ,_, the_AT surpluses_NN2 we_PPIS2 enjoyed_VVD at_II the_AT start_NN1 of_IO the_AT last_MD decade_NNT1 have_VH0 disappeared_VVN ;_; instead_RR ,_, we_PPIS2 are_VBR $12_NNU trillion_NNO deeper_RRR in_II debt_NN1 ._. 
In_II the_AT long_JJ term_NN1 ,_, we_PPIS2 can_VM not_XX have_VHI sustainable_JJ and_CC durable_JJ economic_JJ growth_NN1 without_IW getting_VVG our_APPGE fiscal_JJ house_NN1 in_II order_NN1 ._. 
To_TO help_VVI put_VVI our_APPGE country_NN1 on_II a_AT1 fiscally_RR sustainable_JJ path_NN1 ,_, we_PPIS2 will_VM freeze_VVI non-security_JJ discretionary_JJ funding_NN1 for_IF 3_MC years_NNT2 ._. 
This_DD1 freeze_NN1 will_VM require_VVI a_AT1 level_NN1 of_IO discipline_NN1 with_IW Americans_NN2 '_GE tax_NN1 dollars_NNU2 and_CC a_AT1 number_NN1 of_IO hard_JJ choices_NN2 and_CC painful_JJ tradeoffs_NN2 not_XX seen_VVN in_II Washington_NP1 for_IF many_DA2 years_NNT2 ._. 
But_CCB it_PPH1 is_VBZ what_DDQ needs_VVZ to_TO be_VBI done_VDN to_TO restore_VVI fiscal_JJ responsibility_NN1 as_CSA we_PPIS2 begin_VV0 to_TO rebuild_VVI our_APPGE economy_NN1 ._. 
In_II31 addition_II32 to_II33 closing_JJ loopholes_NN2 that_CST allow_VV0 wealthy_JJ investment_NN1 managers_NN2 to_TO not_XX pay_VVI income_NN1 taxes_NN2 on_II their_APPGE earnings_NN2 and_CC ending_VVG subsidies_NN2 for_IF big_JJ oil_NN1 ,_, gas_NN1 ,_, and_CC coal_NN1 companies_NN2 ,_, the_AT Budget_NN1 eliminates_VVZ the_AT Bush_NP1 tax_NN1 cuts_VVZ for_IF those_DD2 making_VVG more_DAR than_CSN $250,000_NNU a_AT1 year_NNT1 and_CC devotes_VVZ those_DD2 resources_NN2 instead_RR to_II reducing_VVG the_AT deficit_NN1 ._. 
Our_APPGE Nation_NN1 could_VM not_XX afford_VVI these_DD2 tax_NN1 cuts_VVZ when_RRQ they_PPHS2 passed_VVD ,_, and_CC it_PPH1 can_VM not_XX afford_VVI them_PPHO2 now_RT ._. 
And_CC the_AT Budget_NN1 calls_VVZ for_IF those_DD2 in_II the_AT financial_JJ sector_NN1 --_NN1 who_PNQS benefited_VVD so_RG greatly_RR from_II the_AT extraordinary_JJ measures_NN2 taken_VVN to_TO rescue_VVI them_PPHO2 from_II a_AT1 crisis_NN1 that_CST was_VBDZ largely_RR of_IO their_APPGE own_DA making_NN1 --_NN1 to_TO finally_RR recognize_VVI their_APPGE obligation_NN1 to_II taxpayers_NN2 ._. 
The_AT legislation_NN1 establishing_VVG the_AT Troubled_JJ Asset_NN1 Relief_NN1 Program_NN1 (_( TARP_NP1 )_) included_VVD a_AT1 provision_NN1 requiring_VVG the_AT Administration_NN1 to_TO devise_VVI a_AT1 way_NN1 for_IF these_DD2 banks_NN2 and_CC firms_NN2 to_TO pay_VVI back_RP the_AT American_JJ taxpayer_NN1 ._. 
That_DD1 is_VBZ why_RRQ in_II this_DD1 Budget_NN1 we_PPIS2 have_VH0 included_VVN a_AT1 fee_NN1 on_II the_AT largest_JJT and_CC most_RGT indebted_JJ financial_JJ firms_NN2 to_TO ensure_VVI that_CST taxpayers_NN2 are_VBR fully_RR compensated_VVN for_IF the_AT extraordinary_JJ support_NN1 they_PPHS2 provided_VVD ,_, while_CS providing_VVG a_AT1 deterrent_NN1 to_II the_AT risky_JJ practices_NN2 that_CST contributed_VVD to_II this_DD1 crisis_NN1 ._. 
Yet_RR even_RR after_II taking_VVG these_DD2 steps_NN2 ,_, our_APPGE fiscal_JJ situation_NN1 remains_VVZ unacceptable_JJ ._. 
A_AT1 decade_NNT1 of_IO irresponsible_JJ choices_NN2 has_VHZ created_VVN a_AT1 fiscal_JJ hole_NN1 that_CST will_VM not_XX be_VBI solved_VVN by_II a_AT1 typical_JJ Washington_NP1 budget_NN1 process_VV0 that_CST puts_VVZ partisanship_NN1 and_CC parochial_JJ interests_NN2 above_II our_APPGE shared_JJ national_JJ interest_NN1 ._. 
That_DD1 is_VBZ why_RRQ ,_, working_VVG with_IW the_AT Congress_NN1 ,_, we_PPIS2 will_VM establish_VVI a_AT1 bipartisan_JJ fiscal_JJ commission_NN1 charged_VVN with_IW identifying_VVG additional_JJ policies_NN2 to_TO put_VVI our_APPGE country_NN1 on_II a_AT1 fiscally_RR sustainable_JJ path_NN1 --_NN1 balancing_VVG the_AT Budget_NN1 ,_, excluding_VVG interest_NN1 payments_NN2 on_II the_AT debt_NN1 ,_, by_II 2015_MC ._. 
This_DD1 past_JJ year_NNT1 ,_, we_PPIS2 have_VH0 seen_VVN the_AT consequences_NN2 of_IO those_DD2 in_II power_NN1 failing_VVG to_TO live_VVI up_II21 to_II22 their_APPGE responsibilities_NN2 to_II shareholders_NN2 and_CC constituents_NN2 ._. 
We_PPIS2 have_VH0 seen_VVN how_RRQ Main_NP1 Street_NNL1 is_VBZ as_CSA linked_VVN to_II Wall_NP1 Street_NNL1 as_CSA our_APPGE economy_NN1 is_VBZ to_II those_DD2 of_IO other_JJ nations_NN2 ._. 
And_CC we_PPIS2 have_VH0 seen_VVN the_AT results_NN2 of_IO building_VVG an_AT1 economy_NN1 on_II a_AT1 shaky_JJ foundation_NN1 ,_, rather_CS21 than_CS22 on_II the_AT bedrock_NN1 fundamentals_NN2 of_IO innovation_NN1 ,_, small_JJ business_NN1 ,_, good_JJ schools_NN2 ,_, smart_JJ investment_NN1 ,_, and_CC long-term_JJ growth_NN1 ._. 
We_PPIS2 have_VH0 also_RR witnessed_VVN the_AT resilience_NN1 of_IO the_AT American_JJ people_NN --_NN1 our_APPGE unique_JJ ability_NN1 to_TO pick_VVI ourselves_PPX2 up_RP and_CC forge_VVI ahead_RL even_CS21 when_CS22 times_NNT2 are_VBR tough_JJ ._. 
All_DB across_II our_APPGE country_NN1 ,_, there_EX are_VBR students_NN2 ready_JJ to_TO learn_VVI ,_, workers_NN2 eager_JJ to_TO work_VVI ,_, scientists_NN2 on_II the_AT brink_NN1 of_IO discovery_NN1 ,_, entrepreneurs_NN2 seeking_VVG the_AT chance_NN1 to_TO open_VVI a_AT1 small_JJ business_NN1 ,_, and_CC once-shuttered_JJ factories_NN2 just_RR waiting_VVG to_TO whir_VVI back_RP to_II life_NN1 in_II burgeoning_JJ industries_NN2 ._. 
This_DD1 is_VBZ a_AT1 Nation_NN1 ready_JJ to_TO meet_VVI the_AT challenges_NN2 of_IO this_DD1 new_JJ age_NN1 and_CC to_TO lead_VVI the_AT world_NN1 in_II this_DD1 new_JJ century_NNT1 ._. 
Americans_NN2 are_VBR willing_JJ to_TO work_VVI hard_RR ,_, and_CC ,_, in_II return_NN1 ,_, they_PPHS2 expect_VV0 to_TO be_VBI able_JK to_TO find_VVI a_AT1 good_JJ job_NN1 ,_, afford_VV0 a_AT1 home_NN1 ,_, send_VV0 their_APPGE children_NN2 to_II world-class_JJ schools_NN2 ,_, receive_VV0 high-quality_JJ and_CC affordable_JJ health_NN1 care_NN1 ,_, and_CC enjoy_VV0 retirement_NN1 security_NN1 in_II their_APPGE later_JJR years_NNT2 ._. 
These_DD2 are_VBR the_AT building_NN1 blocks_NN2 of_IO the_AT middle_JJ class_NN1 that_CST make_VV0 America_NP1 strong_JJ ,_, and_CC it_PPH1 is_VBZ our_APPGE duty_NN1 to_TO honor_VVI the_AT drive_NN1 ,_, ingenuity_NN1 ,_, and_CC fortitude_NN1 of_IO the_AT American_JJ people_NN by_II laying_VVG the_AT groundwork_NN1 upon_II which_DDQ they_PPHS2 can_VM pursue_VVI these_DD2 dreams_NN2 and_CC realize_VVI the_AT promise_NN1 of_IO American_JJ life_NN1 ._. 
This_DD1 Budget_NN1 is_VBZ our_APPGE plan_NN1 for_IF how_RRQ to_TO start_VVI accomplishing_VVG this_DD1 in_II the_AT coming_JJ fiscal_JJ year_NNT1 ._. 
As_CSA we_PPIS2 look_VV0 back_RP on_II the_AT progress_NN1 of_IO the_AT past_JJ 12_MC months_NNT2 and_CC look_VV0 forward_RL to_II the_AT work_NN1 ahead_RL ,_, I_PPIS1 have_VH0 every_AT1 confidence_NN1 that_CST we_PPIS2 can_VM --_NN1 and_CC will_NN1 --_NN1 rise_NN1 to_II the_AT challenge_NN1 that_CST our_APPGE people_NN and_CC our_APPGE history_NN1 set_VVN for_IF us_PPIO2 ._. 
These_DD2 have_VH0 been_VBN tough_JJ times_NNT2 ,_, and_CC there_EX will_VM be_VBI difficult_JJ months_NNT2 ahead_RL ._. 
