Bush says budget is sound

President Bush said Monday his $3.1 trillion budget plan will keep the U.S. economy growing and protect the U.S. militarily.

Bush reviewed the budget with his Cabinet. He held aloft a computer tablet that contained the budget details, which were transmitted electronically to Congress.

"This is a good, solid budget," the president said. "It's not only an innovative budget in that it's coming to Congress over the Internet. It's a budget that's balanced — gets to balance in 2012 and saves taxpayers money."

"It's a budget that keeps important objectives. One, it understands our top priority is to defend our country so we fund our military as well as fund the homeland security," Bush said. "Secondly, the budget keeps our economy growing.

"It's essential that we make sure that we deal with the uncertainties — the economic uncertainties we face," Bush said. He said it was important for Congress to quickly enact a $150 billion economic stimulus plan.

Bush also called on Congress anew to make expiring tax cuts permanent.

Bush said his plan would boost money for education, health, housing and helps make the tax code fairer.

"This budget is one that keeps spending under control," the president said. He said it would eliminate or reduce 151 "wasteful or bloated" programs, which would save taxpayers $18 billion.

"It also takes a hard look at entitlement growth over the next five years," Bush said. He said Congress should come up with its own ideas, particularly looking at deficits in Social Security and Medicare.