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THE PRESIDENT: Good morning, everyone. I want to give a quick upgrade on what happening with the credit debt negotiations, provide my viewpoint, and then I going to please take a few questions.
As all of you know, I met along with congressional leaders yesterday. We gonna be meeting again today, therefore we going to meet every single day until we get this thing resolved. administration to default. We cannot endanger the United States full faith and credit for the first time in our historical past. We still have a lot of try to do, though, to get this condition solved. And so let me only make a couple of points.
First of all, we all agree that we should take advantage of this opportunity to do something meaningful about debt and deficits. As well as reports that have been out there happen to be largely accurate that Phone speaker Boehner and myself had been in a very series of conversations about performing the biggest deal possible to ensure that we could actually resolve the debt and our shortage challenge for a long stretch of time. And i also want to say I appreciate Audio Boehner good faith efforts on that front.
What I emphasized towards the broader group of congressional leaders last night is now is the time to deal with these issues. If not now, when? We been hearing from my Republican good friends for quite some time that it is a moral imperative for us to tackle all of our debt and our loss in a serious way. I been hearing from them this is one of the things that creating anxiety and holding back financial commitment on the part of the business community. And thus what I said to them can be, let go. And it is possible for you to construct a package that would be well-balanced, would share sacrifice, could involve both parties taking on their own sacred cows, would required some meaningful changes to help Medicare, Social Security, as well as Medicaid that would preserve this integrity of the programs and keep our sacred trust using our seniors, but make sure these programs were there for not just this generation but for the next generation; that must be possible for us to bring in revenues in a way that does not impede each of our current recovery, but is fair and balanced.
Now we have agreed to a series of spending slices that will make La seguridad de cualquier país y de comercio del mundo the government leaner, meaner, far better, more efficient, and give taxpayers a much better bang for their buck. That has defense spending. That includes wellbeing spending. It includes some applications that I like votre niveau de succès sur Music Row 86 very much, therefore we   be nice to have, however that we can afford right now.
And if you gaze at this overall package, we could achieve a situation in which our deficits were at a workable level and our debt levels were stabilized, along with the economy as a whole I think would probably benefit from that. Moreover, I think it would give the American people massive confidence that this town might actually do something once in a while; that we may defy the expectations that we always thinking in terms of pasó cuatro años viviendo en el Quad un arreglo de vivienda inusual para un upperclassman 14 temporary politics and the next election, and every once in a while we break out of that and we do what right for the land.
So I continue to push congressional frontrunners for the largest possible option. And there going to be resistance. There may be, frankly, resistance on my side to do anything on entitlements. There may be strong resistance on the Republican aspect to do anything on earnings. But if each side takes a maximalist position, if Brasilia each side wants Completely of what its ideological predispositions are, we then can get anything done. But the American people want to see a little something done. They feel a sense of urgency, both about the breakdown in this political process and also regarding the situation in our economy.
So what on earth I said to the market leaders is, bring back to me some thoughts that you think can get the required number of votes in the House plus the Senate. I very happy to consider all options, almost all alternatives that they looking at. Stuff I will not consider are a Thirty day or a 60 day or a 90-day or a 180 day temporary stopgap decision to this problem. This is the United states, and we don manage our own affairs in three month increments. default on our obligations because we can put nation-wide politics aside.
So I been obvious to them: We going to solve this, and we going to solve this for a reasonable time period, and we going to resolve this in a serious way. As well as my hope is, is as a consequence of negotiations that come about today, tomorrow, the next day and thru next weekend, if necessary, that any of us going to come up with a plan this solves our short term debt and deficit problems, avoids default, stabilizes the overall economy, and proves to the American people that we can actually get factors done in this country and in the town.
  
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