One last point from Obama’s remarks in Pittsburgh today:
I believe there are four key components to putting our budget on a sustainable path. Maintaining economic growth is the first, and health care reform is the second.
Rising health costs will put tremendous pressure on the federal budget during the next few decades and beyond. In CBO’s judgment, the health legislation enacted earlier this year does not substantially diminish that pressure.
As for this “maintaining economic growth” talk, note that private-sector job growth has been pretty consistently lousy: 182,000 jobs added in March, 224,000 in April. That’s better than losses, but a drop in the bucket when the country has 15.3 million unemployed.