in their own words
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 Have To Get Our Fiscal House In Order - White House Press Briefing by Robert Gibbs 11/23/09 — Monday, November 30, 2009 —  MR. GIBBS: Jake.Q While we're on the subject of the deficit, the President said last week, "I think it's important though to recognize that if we keep adding to the debt, even in the midst of this recovery, at some point people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession." What steps is the President prepared to take to get us out of this hole? MR. GIBBS: Well, again, we'll broaden this just slightly. For the entirety of our administration, we've dealt with in many ways dual challenges: How do you get the economy back on track, what do you have to do to both create economic growth, which then is what you have to have in order to create job growth; as well as understanding a dramatic change in the past decade in our fiscal situation. So obviously, both of those have to be taken into account. Like I said a second ago, the biggest driver in -- the two biggest drivers were tax cuts and prescription drug benefit programs that weren't paid for. The second biggest driver is a downturn in our economy. So first and foremost, the President will focus on what can be done to get our economy moving again, what can be done to help spur the creation of jobs and continued economic growth. And like I said, I think the conversation in some ways has been changed. The discussion that's being had now, as you know, is how to pay for health care. Q I mean, that's not really any major -- I mean, so the answer to what can be done to get us out of the $12 million hole is to get the economy back in -- MR. GIBBS: Well, first and foremost that's -- yes, that's -- a downturn in the economy, caused by the recession, a change in tax receipts, is first and foremost what can be done. Obviously there are meetings that continue today in terms of putting the budget together for next year, understanding that the President believes that we are going to have to continue next year to balance what has to be done to create -- continue economic growth and create demand for jobs, as well as balancing our fiscal situation, which the President also said last week in those interviews. Q Right, but how could -- okay, understood, the economy -- getting the economy back on track, that will increase revenues. But the President said specifically, even if, when the economy bounces back and -- MR. GIBBS: Well, and you've heard the President talk quite a bit about the fact that we most assuredly have to get our fiscal house in order. Again -- Q Right, so what does he think should be done to do that? MR. GIBBS: Well, that's -- they're working on putting together the budget for next year. One of the first things he talked about was taking into account the massive amounts of money that the government spends on health care each year -- which passing health care reform, over the next 10-year period cuts about $130 billion, according to the Senate bill, out of the deficit. Q Well, that's $13 billion a year. That's not even a quarter of what we borrow from China every year. MR. GIBBS: Well, but if you don't start somewhere, Jake, you're not going to get anywhere. I think the President understands that we've got, again, very dual challenges that have to be addressed in getting our economy moving again, as well as taking into account our long-term fiscal health. Economy | Federal Deficit | President Obama | Press Briefing | Robert Gibbs | White House Press Corps Labels: Economy, Federal Deficit, President Obama, Press Briefing, Robert Gibbs, White House Press Corps >> Full Story
Posted by White House Press Corps @ 9:53:00 AM
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1 Comments:
Watching Gibbs get out there and lie every day is a sickening sight. Not my country tis of thee any more. The democrats should be ashamed of themselves.
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