Barack Obama actually said...

"We no longer can afford to tolerate investments in programs that are outdated, duplicative, ineffective, or wasteful."

"Even with these costs on the books, the Budget will cut the deficit in half by the end of my first term."

"These savings, large and small, add up."

"I believe that after an era of profound irresponsibility, Americans are ready to embrace the shared responsibilities we have to each other and to generations to come."