will help grow our economy right now. we can t cut back on those things that are important for us to grow. we can t just cut our way into growth. we can cut back on the things we don t need, but we also have to make sure that everyone is paying their fair share for the things we do need. there you have it. no budget cuts in the short run and basically make the richer pay more taxes. part of the budget meant to jump-start the economy as the president just said. he s proposing $500 billion in transportation projects. $141 billion on defense spending and research and $8 billion for job training. jobs and job training now. no spending cuts now. trying to get the rich to pay their share. and the question is not just how big the debt is that our children will inherit. it s how big the economy our children will enhirit and the debt is a percentage of gdp.
a serious counter offer or is everybody just kind of waiting for what paul ryan comes up with? well, this is an election year. who needs a budget? everybody needs their campaign documents. even before the president came out with his budget yesterday, harry reid said in the senate there s no budget to be passed there this year, so it was dead on arrival in the democratic-controlled senate. the republican candidates would surely not want to be too articulate in their own plans because it would give president obama something to campaign against. what obama did was say, look, i m just going to sit back and let paul ryan come out with his proposal so i can whack the republicans again for trying to cut medicare, trying to cut entitlements and taxes on the rich. it was a saying of, i ll pass, it s your move, republicans, so i can beat up on you for that. it is not a budget, it s a campaign document. dana, thanks to you.
but it is one of those situations where you see sooner or later they have to cave and the sooner they do it the less embarrassing it is for them. they can move on to other things. yes, it adds $100 billion to the deficit. heck, the president just threw another trillion on to the national debt over ten years yesterday, so what s another $100 billion? we ll talk about the president s budget since you bring it up, a nearly $4 trillion plan that is slammed by republican presidential candidates. let me play a couple clips. the president came out with a new budget today. and yeah, you have reason for that response. another trillion-dollar budget deficit, another tax-the-rich scheme. more tax, more government. the time to stop it is right now. nobody is saying the budget is going to go anywhere, but it does set up a pretty clear contrast between the democrats and the republicans. do any of these candidates have
starting around august when the republican candidates, your guys, rejected even in concept a 10 for 1 deal. $10 of spending cuts for $1 of revenue increase. he realized he wasn t going to make a deal with your side. so he said, why don t i do what i do best and democrats sell best. let s create jobs. so he started with the american jobs bill. laugh at it if you will. it s his bill and you don t have one. two, cut the payroll tax. keep it down so people who are more likely to hire people. let the republicans talk about debt reduction. that s his philosophy. and that s his politics. his philosophy is what he did in the middle east which is lead from behind. he s actually it worked, didn t it? not in the middle east. where is this guy gadhafi? let s see what happens in syria and iran and iraq and iran and israel. it s a real mess in the middle east. but anyway your guy did a really good job. w. did a great job over there. he s leading from behind on the budget. senate de
he s leading from behind on the budget. senate democrats are not going to do the budget. the only ones that are going to lead on the budget are going to be the house republicans. after the end of this budget cycle, ten years, the because of the obama budget, if the obama budget was put in place, which it won t be, my son will inherit a $26.3 trillion debt. that is a it s a big deal. it s a political document. i think it s an irresponsible budget. i think he s going to the problem with the president is people don t think he s actually leading right now. okay. a lot of that debt we know comes about because of what he inherited. the president defend his budget saying we need to keep the economy growing right now. no time to be cutting spending right now. let s watch him. the main idea in the budget is this. at a time when our economy is growing and creating jobs at a faster clip, we ve got to do everything in our power to keep this recovery on track by reducing our deficit in