Office of Management and Budget Director Peter Orszag gave an overview of President Obama’s budget proposals for fiscal year 2010. In his remarks he defended Obama administration proposals to provide tax cuts to Americans earning less that $250,000 while restoring prior tax rates to those earning more. He also responded to critics' charges that the budget was based on overly optimistic assumptions about economic growth and would hurt the economy, saying that 95% of Americans would benefit from the proposals.