2/28 Undoing Bush: Putting the Public Interests Over Private Interests

2009: President Obama makes real his campaign promises to shake up Washington, as revealed in the hard facts of his recently submitted budget.  Obama’s budget reverses Bush era decisions that favored private interests over the public’s  interests. 

Explaining his choices, President Obama said today that the insurance companies won’t like having “to bid competitively to continue offering Medicare coverage, but that’s how we’ll help preserve and protect Medicare and lower health care costs.  I know that banks and big student lenders won’t like the idea that we’re ending their huge taxpayer subsidies, but that’s how we’ll save taxpayers nearly $50 billion and make college more affordable. I know that oil and gas companies won’t like us ending nearly $30 billion in tax breaks, but that’s how we’ll help fund a renewable energy economy.”

Added the president, ”The system we have now might work for the powerful and well-connected interests that have run Washington for far too long, but I don’t. I work for the American people.“  Obama admitted his path will be difficult: “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,” Obama said. “My message to them is this: So am I.”