American Morning

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February 1st, 2010
11:00 AM ET

Orszag talks about president's proposed $3.8 trillion budget

The Obama administration is doing what so many families have already been forced to do: make tough choices with their money.

The president's $3.8 trillion budget is heading to Capitol Hill today. It calls for billions of dollars to create jobs, but it freezes spending for other domestic programs.

Republicans like House Minority Leader John Boehner are saying it's a good start. President Obama's budget director, Peter Orszag, joined us on Monday's American Morning.

Explainer: Obama's 2011 budget

Filed under: Politics
soundoff (10 Responses)
  1. Iowa Voter

    Re: Ms. Chetry's claim that $250,000 annual income is "middle class." This is another example of why so many people think the so-called "main stream media" is biased toward the rich. Anyone who believes that the so-called main stream media promotes a progressive or liberal agenda is living in a fairy tale. The goal of CNN, Fox, MSNBC, and the rest is to promote the interests of their funding sources (think Wal-Mart rather than Joe's Hardware). You are the rich protecting the rich by stacking the deck against anything that might provide a level playing field.

    February 2, 2010 at 10:45 am |
  2. ausman98

    So, Ms. Chetry thinks that $250G is "middle class to some people"? Seriously? If there are people who truly think that, they should be termed delusional.

    And that word also applies to those who think that the budget deficit began when the Dems came into power and Obama became president. Actually–as a service to the fact challenged among us–the last time the government had a budget surplus was the last two years of the Clinton administration. It took the Bush administration one year to reverse that trend. And the most profligate period in American history was the eight years of the last Republican administration. The second place finisher in that sweepstakes by the way is the Reagan administration. So much for Republicans being deficit hawks and more trustworthy with the people's money. Never let the facts get in the way of a good story, though.

    February 1, 2010 at 10:43 pm |
  3. A. Pasha

    Ms. Chetry, you're on CNN now, not FAUX News. You can't just say anything and the viewer will believe it. You'll lose credibility real fast. How could you even fathom that someone making $250,000 a year would be considered middle class! Unbelievable! And you had the nerve to repeat that to the Budget Director of United States of America. Even he was taken aback. And rightly pushed back on your outrageous claim. Suggestion: Go to the Huffingtonpost where this artlce is reprinted. The bloggers are calling you out!

    February 1, 2010 at 9:55 pm |
  4. Jim

    $250,000 is middle class? Perhaps you should have stayed at Fox where gross inaccuracies such as this are standard procedure.

    February 1, 2010 at 9:41 pm |
  5. Denis Elliott

    Do live live in Charlie Gibson's neighborhood? You really should have your researchers provide you some good old FACTS about income distibution in America. If you make a "mere" 100K you are in the top five to six percent of wage earners! Now, I don't know how they define "middle" where YOU went to school, but in the good ole midwest where I grew up even someone making less than half of your 250K benchmark would be so far above "middle" as to be considered "rich." Now, I realize you grew up in one of the richer counties in the country, but even there most folks didn't make even 100K, much less 250K. Have your researchers pull information from Montgemery County's own website from when you were in school until now and those big brown eyes might actually open up wide and learn something!

    The fact of the matter is, for decades now the overwhelming % of American wage earners (you better off folks also get a nice chunk every year from investment income – something most people can only dream about) have made less than 40K per year – by overwhelming I mean roughly 85%. Want more? Roughly two-thirds of HOUSEHOLDS make LESS than 50K per year.

    Throw out the top ten and bottom ten percent, and you find the remaining 80% of wage earners in America make from the mid teens to the high thirties. THAT'S "middle class in my book. You and Mr. Gibson, of late from ABC News (I'm referring to his comments in the primary debate in Ohio) need to realize that "talent" in your business lives and works in a very different world than the REAL one most of your viewers (and for that matter most of your own production staff) live in. If you are going to get into substantive debates on policy matters like this, at least have the decency to recognize that fact, or if you already do then do NOT pretend like you are "one of us."

    February 1, 2010 at 5:37 pm |
  6. Diana

    My question is for Ms. Chetry –

    Where in this country is a yearly income of $ 250,000 considered middle class ?

    You stated this morning in your "interview" with Mr. Orszag that
    $ 250,000 / per year would be considered middle class " in some parts of the country ". I would like to know where so I can move there if that is middle class.

    It is this type of reporting that turns people off to MSM and makes us go elsewhere for our information.

    Thank God for the internet where everything can be fact checked almost immediately.

    February 1, 2010 at 4:26 pm |
  7. Harris

    Kiran you need to have Middle Class defined for you!
    Last year based on 2006 income levels, per the CBO:
    Here are the household averages:
    Bottom Fifth $16,500
    Second Fifth $35,400
    Middle Fifth $52,000
    Fourth Fifth $73,800
    Top Fifth $ 184,400
    For your information the Top 1% average $1,200,300

    Guess what $250,00 is not the middle!!!!!!!

    Please know what your talking about before you open you mouth and insert both your feet. Maybe you should get out into the country side a little more and away from your rich friends.

    February 1, 2010 at 3:56 pm |
  8. Kelly M Vallango

    Seriously, $250,000 is middle class? Kiran, you have lost my respect, clearly you do not speak for me or anyone I know.

    February 1, 2010 at 2:02 pm |
  9. maureeno

    how could Ms. Chetry say:
    "some would argue $250,000 is middle class" ???!!!????
    only 1.5% of families make this level of income

    American Morning is too rich for me!

    February 1, 2010 at 1:48 pm |
  10. Mike Lambers

    Do these people understand that the entire GDP is $13.8 Trillion. Why in the world should the Fed budget be 27.5% of the GDP and rising.

    That is more than insane, it is a formula for disaster and it is unsustainable.

    I can't wait unitl November.

    February 1, 2010 at 11:46 am |