the WHITE HOUSEPresident Barack Obama

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The White House
Office of the Press Secretary
For Immediate Release

Statement by the Press Secretary on Funding for Fiscal Year 2011

As the President said last week, we are pleased that Democrats and Republicans, on behalf of all Americans, were able to reach an agreement to avert a government shutdown by making significant spending cuts while still investing in our future.  Because of this deal, small businesses will continue to receive loans, families will continue to receive mortgages, and hundreds of thousands of government workers and our military personnel will get their paychecks on time.  We all know there are tough challenges ahead, from growing our economy to reducing our deficit, but we must build on this bipartisan compromise to tackle these issues and meet the expectations of the American people. 

Yesterday, the President laid out his vision to do just that.  He called on leaders from both sides of the aisle to work towards reducing our long-term debt and putting our nation on a more responsible fiscal trajectory.  We must look at all corners of the federal government to find additional savings while protecting the investments that will create new industries and new jobs.  Reducing our deficit and starting to live within our means, just as millions of Americans do each day, is critical to meet future challenges and provide rising opportunity for future generations.