American Morning

Rep. Van Hollen: 'We have to act now' for fiscal stability

"We will move forward together, or not at all -– for the challenges we face are bigger than party, and bigger than politics.

At stake right now is not who wins the next election -– after all, we just had an election. At stake is whether new jobs and industries take root in this country, or somewhere else. It’s whether the hard work and industry of our people is rewarded. It’s whether we sustain the leadership that has made America not just a place on a map, but the light to the world."

-President Barack Obama, State of the Union Address, January 25, 2011

President Barack Obama's message last night was simple, "We need to win the future." Delivering his State of the Union address, President Obama challenged the country to encourage innovation, refocus on education, rebuild infrastructure and reduce the amount of national debt. Focusing on the debt the president proposed to "freeze annual domestic spending for the next five years" to "reduce the deficit by more that $400 billion over the next decade."

The promises will mean a busy year in for Representative Chris Van Hollen who is the top Democrat on the House Budget Committee and will have to work with Republicans to reduce our debt. Van Hollen tells American Morning's Kiran Chetry, "coming together doesn't mean we agree on everything. But it does mean that we all have to give a little as we try and tackle these common challenges.