Obama budget chief defends plan

March 3, 2009 6:45:59 PM PST
President Barack Obama's top economic aides are putting on a strong defense of his $3.6 trillion budget. Both the Treasury secretary and White House budget director are on Capitol Hill to answer questions about the proposal. At separate hearings, they're saying the president's plan would benefit 95 percent of working Americans.

Budget director Peter Orszag calls the measure an honest look at the government's bleak financial situation. He tells lawmakers the proposal marks a change from what he calls the "era of irresponsibility."

The Obama budget was released last week, but today marks the first time lawmakers have been able to question his top aides about details.

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