WASHINGTON--President Barack Obama slams the GOP proposed budget as a "thinly-veiled Social Darwinism," --hear that, Rep. Paul Ryan (R-Wisc.)-- later Tuesday in a speech before the American Society of Newspaper Editors.
Calling the fiscal plan a "Trojan Horse," Obama will say, "by gutting the very things we need to grow an economy that's built to last - education and training; research and development - it's a prescription for decline."
The White House released excerpts from the speech:
"Whoever he may be, the next president will inherit an economy that is recovering, but not yet recovered, from the worst economic calamity since the Great Depression. Too many Americans will still be looking for a job that pays enough to cover their bills or their mortgage. Too many of our citizens will still lack the sort of financial security that started slipping away years before the recession hit. And a debt that has grown over the last decade, primarily as a result of two wars, two massive tax cuts, and an unprecedented financial crisis, will have to be paid down."
"In this country, broad-based prosperity has never trickled-down from the success of a wealthy few. It has always come from the success of a strong and growing middle class. That's how a generation who went to college on the GI Bill, including my grandfather, helped build the most prosperous economy the world has ever known. That's why a CEO like Henry Ford made it his mission to pay his workers enough so they could buy the cars that they made. That's why studies have shown that countries with less inequality tend to have stronger and steadier economic growth over the long run."
"This Congressional Republican budget, however, is something different altogether. It's a Trojan Horse. Disguised as deficit reduction plan, it's really an attempt to impose a radical vision on our country. It's nothing but thinly-veiled Social Darwinism. It's antithetical to our entire history as a land of opportunity and upward mobility for everyone who's willing to work for it - a place where prosperity doesn't trickle down from the top, but grows outward from the heart of the middle class. And by gutting the very things we need to grow an economy that's built to last - education and training; research and development - it's a prescription for decline."