Barack Obama actually said...

I do not believe you can cut entitlements, Medicare, Medicaid, $800 billion. That money is out the door.

The President has called for a fiscal responsibility summit, and he is talking about doing that sometime this month.

The President's budget recognizes the enormous challenges and threats we face because of the ways we use energy.

What we need to do is raise the cap on the payroll tax so that wealthy individuals are paying a little bit more into the system.