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U.S. President Barack Obama says cutting the country's deficit and creating a climate for job growth remain central to his presidency.

During his weekly broadcast and Internet address Saturday, Mr. Obama said no programs should be exempt when Congress looks for ways to trim the deficit.

The president also said the very wealthy should not be afforded tax breaks at the expense of educational assistance, medical research and care for the elderly.

The president says government has to operate within its means – just like families – and not spend money it does not have.

As the United States prepares to celebrate its independence , Mr. Obama is urging Democrats and Republicans to draw on the spirit the country was founded on to meet the current economic challenges.

In the Republican address, Senator Dan Coats of Indiana says the economic policy of the president and Democrats is not working.

Mr. Coats says Republicans are pushing for a vote on a balanced budget amendment this month.

He says the country has the choice of moving in a direction of having a balanced budget or going broke.