You're listening to Closing Bell in Progress.

A busy couple days for all of you.

The, um, let me begin by saying that, thank you, Director Young, you know, he heard me say this before over the years.

My dad had an expression, he said, don't tell me what you value. Show me your budget. I'll tell you what

you value. Don't tell me what you value. Show me your budget and I'll tell you what your value.

Well the budget I'm releasing today he sends a clear

message of the American people that we what we value. First, fiscal

responsibility. Second, safety and security. and thirdly, the investments needed to build a better America.

The first value is fiscal responsibility.

The previous administration, as you all know, ran up record budget deficits.

In fact, the deficit went up every year under my predecessor.

My administration is turning that around.

Last year, we cut the deficit by more than 350 billion dollars. This year

we're on track to cut the deficit by more than 1 trillion three hundred billion dollars that would be the largest one year

reduction in the deficit in US history and here's how we're achieving this record deficit reduction. First,

we're growing the economy. We've created a record 6.7 million jobs since I took office, and

we've generated a GDP growth of 5.7% the best economic

growth we've seen in this country in over 40 years. This has led to

substantial increase in government revenues and dramatically improved our fiscal situation.

Secondly, this record economic and job growth has made it possible for us to responsibly and significantly cut back on

emergency spending. Early in the pandemic it was right to give people help to make

ends meet and to keep their economy going.

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