President Obama's Weekly Address 2/12/11: "It's Time Washington Acted as Responsibly as Our Families Do"

WASHINGTON – President Obama used his weekly address to preview his budget saying that it will help the government live within its means, while still investing in the future. In addition to stripping out waste, his budget includes a freeze on annual domestic spending over the next five years—even for programs he cares deeply about—which will reduce the deficit by more than $400 billion over the next decade. And, it will make investments in the future, by supporting what will do the most to grow the economy in the years to come. This means investing in things like infrastructure, research, and education.

Schaer & Scalera on Passage of Bill to Prevent Another EnCap

In this video commentary, Assemblymen Gary S. Schaer and Fred Scalera (both D-Bergen/Essex/Passaic) discuss the 77 to 0 passage of their legislation to enhance the protections and oversight surrounding public investments in private redevelopment projects.

Schaer and Scalera crafted the bill (A-2650) in response to the disastrous failure of the EnCap Mixed-Use Redevelopment Project. The project, which aimed to remediate abandoned municipal landfills in the Meadowlands, collapsed earlier this year when EnCap declared bankruptcy after receiving more than $300 million in public money from state and Bergen County sources.