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U.S. President Barack Obama holds a press conference in the Eisenhower Executive Office Building February 15, 2011 in Washington, DC.
House Republicans came out swinging over President Obama’s budget proposal criticizing him for neglecting to take more aggressive action to reduce the national debt and demanding more spending cuts. Obama defended his position and hurled a few stones of his own. He urged Republicans in the House to be patient and assured his critics that he plans to address the entitlement programs including Social Security and Medicare. Obama doesn’t view his budget proposal as the final word, but rather the beginning of what he hopes will be a bi-partisan effort to address the financial stability of the U.S. economy. Is cooperation possible or will this budget process end in a stale mate?
Joe Williams, White House Bureau Chief for POLITICO
Jodi Schneider, Bloomberg News Editor