Readout of the President's Meeting With the House Democratic Caucus

After heralding what Democrats on Capitol Hill have already accomplished - including passage of the American Recovery and Reinvestment Act - the President laid out in clear terms the stakes of the pending budget vote. Calling his budget "a distillation of core Democratic values," he urged members of Congress to pass his blueprint for sustained economic growth.

He then fielded questions for about a half-hour from members of Congress about his budget priorities.

The meeting ended with the President thanking Chairman John Spratt for his hard work and asking the assembled members for their support on the budget.

During the meeting, Speaker Pelosi presented the President with the flag that flew over the Capitol the day of his address to a joint session of Congress.