From the transcript at the
Washington Post, I copied President Obama's answers into a Word document, then autosummarized at 1% and at 10%. Then for the fun of it, I took the 10% autosummarization and autosummarized it to 1%. All right. OK. Working backwards...
- Autosummarized 1% of the autosummarized 10%:
All right. Let's invest in preventive care. All right?
- Autosummarized to 1%
All right. Here's what I do know: If we don't tackle energy, if we don't improve our education system, if we don't drive down the costs of health care, if we're not making serious investments in science and technology and our infrastructure, then we won't grow 2.6 percent, we won't grow 2.2 percent. The budget that we've put forward reflects the largest increase in veterans funding in 30 years. Let's invest in preventive care. All right?
- Autosummarized to 10%
It's a strategy to create jobs, to help responsible homeowners, to restart lending, and to grow our economy over the long term.
The first step we took was to pass a recovery plan to jump-start job creation and put money in people's pockets. We've already seen a jump in refinancing of some mortgages, as homeowners take advantage of lower rates. We invest in reform that will bring down the cost of health care for families, businesses and our government.
All right. So we've got a regular mechanism whereby we deal with FDIC- insured banks. I think a lot of people understandably say, "Well, if we're putting all this money in there, and if it's such a big systemic risk to allow AIG to liquidate, why is it that we can't restructure some of these contracts? With respect to the American people, I think folks are sacrificing left and right. What I've said here in Washington is that we've got to make some tough choices. We've got to make some tough budgetary choices. What we can't do, though, is sacrifice long-term growth, investments that are critical to the future, and that's why my budget focuses on health care, energy, education, the kinds of things that can build a foundation for long-term economic growth, as opposed to the fleeting prosperity that we've seen over the last several years.
We are going through an extraordinary crisis, but we believe that, taken -- if you take the steps that we've already taken, with respect to housing, with respect to small businesses, if you look at what we're doing in terms of increasing liquidity in the financial system, that the steps that we're taking can actually stabilize the economy and get it moving again.
Well, I've emphasized repeatedly what I expect out of this budget. I've said that we've got to have a serious energy policy that frees ourselves from dependence on foreign oil and makes clean energy the profitable kind of energy.
Our point in the budget is: Let's get started now. The bottom line is, is that I want to see health care, energy, education, and serious efforts to reduce our budget deficit.
Point number two. The deficit is cut in half. Here's what I do know: If we don't tackle energy, if we don't improve our education system, if we don't drive down the costs of health care, if we're not making serious investments in science and technology and our infrastructure, then we won't grow 2.6 percent, we won't grow 2.2 percent. I mean, we haven't seen an alternative budget out of them.
The biggest problem we have long term is Medicare and Medicaid. The budget that we've put forward reflects the largest increase in veterans funding in 30 years. So there are a whole host of veterans issues that I think every American wants to see properly funded, and that's what's reflected in our budget.
One last point. Now, how do we -- how are we going to reduce health care costs? Let's invest in preventive care. Let's avoid steps that could result in protectionism, that would further contract global trade. As far as confidence in the U.S. economy or the dollar, I would just point out that the dollar is extraordinarily strong right now. And the reason the dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world.
Let's give them some relief, some help, 95 percent of American families."
People are still going to be able to make charitable contributions. Right now, he gets 28 percent -- he gets to write off 28 percent. How can we make sure that we are investing in the infrastructure for the future that can put people back to work right away? Now, in the meantime, we've got to work very closely with the states to monitor and to help people who are still falling through the cracks. I think that, when it comes to domestic affairs, if we keep on working at it, if we acknowledge that we make mistakes sometimes, and that we don't always have the right answer, and we're inheriting very knotty problems, that we can pass health care, we can find better solutions to our energy challenges, we can teach our children more effectively, we can deal with a very real budget crisis that is not fully dealt with in my -- in my budget at this point, but makes progress.
We've been in office now a little over 60 days. All right?
