The Brody File: Inside Obama's Press Conf.

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President Barack Obama continued to promote his plan for economic growth, Tuesday, using much of his second prime-time news conference to assure Americans that the country is "moving in the right direction" despite the current obstacles.

Questions for the president focused primarily on his pricey budget revealed last month and the outrage surrounding the millions in AIG bonuses given out recently.

Obama said that though it's important not to "demonize every investor or entrepreneur who seeks to make a profit," bankers and executives on Wall Street must "realize that enriching themselves on the taxpayers' dime is inexcusable."

The days of outsized rewards and reckless speculation that puts us all at risk have to be over," he charged.

CBN News White House Correspondent David Brody attended the press conference at the White House and sent updates throughout the night.

Read below for his comments.  Also, click play to watch President Obama's response to a question related to his budget during Tuesday's press conference.


Final Update

President Obama is like the guy in baseball who always seems to get on base and rarely strikes out. He is what you call a guy with a high on base percentage. At Tuesday's prime time press conference he was at it again. He was hitting singles all night. The guy is methodical. He basically makes his point and moves on and never seems to stumble. Ever.

When asked about how his budget is out of control with regards to the deficit he just calmly laid out the case that these investments in health care, energy and education will pay dividends down the road. He may be right. He may be wrong but for now at least he has an answer that he hopes will satisfy the American public.

I found it interesting that he was never asked about the toxic assets plan rolled out this week. He didn't even get much on AIG. This is probably because the toxic asset plan went down pretty smoothly....no huge controversy there. As for AIG, that got overshadowed because even democrats are now making a stink about Obama's budget so that felt more immediate. In a 24/7 news environment that is what happens.

A couple other points to mention. His answer on embryonic stem cell research may have driven conservative Christians nuts. Why? Because he played the "I understand how both sides feel" card and pro lifers have heard that one too many times. They say he talks a good game but always chooses against life. Hey...just keeping it real.

On charitable contributions President Obama didn't mess around basically saying that charity groups are wrong to suggest capping itemized charitable deductions will lead to less giving. Normally he likes to throw nuance into an argument but not on this one.

By the way, a quick side note. The Brody File heads to Europe this weekend. I will be in London and France for 10 days covering President Obama at the G 20 Summit and the NATO Summit as well. I'll be reporting every day on The 700 Club next week.

7:59 p.m.

Valerie Jarrett, David Axelrod and Rahm Emanuel are all in the back of the room. The big wigs have arrived which means it's time to grab the popcorn.

7:23 p.m.

President Obama is really going to have to explain whether he believes the House plan to tax these bonuses is really constitutional. He has sent a mixed message on this, signaling that it may be unconstitutional but he understands what House members are trying to do. Yet he says he doesn't want to govern out of anger. What will he say?

7:17 p.m.

The WH press folks just made a big announcement before coming to the East Room that there are no bathrooms in here so you better go in the briefing room area before coming in here. I can tell you that there were at least 10 male reporters lined up. Chalk that piece of information down as the most useless thing you'll hear today

7:10 p.m.

The Brody File is here for President's press conference. Just entered the East Room of the WH. It's already three quarters filled. I'm in the fourth row (five rows total) near the middle of the room. It's actually a great seat. Anybody willing to pay me for it? Hey, IRS folks…just kidding…lighten up.

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