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1 00:00:02,100 --> 00:00:16,600 MR. GIBBS: Good afternoon. I'll make a couple of brief 2 00:00:16,600 --> 00:00:21,130 announcements before we get started. 3 00:00:21,133 --> 00:00:22,663 The President just had a good meeting on the hill with 4 00:00:22,667 --> 00:00:26,837 Senators Dorgan and Conrad, Representative Pomeroy of North 5 00:00:26,834 --> 00:00:30,934 Dakota, Senator Klobuchar and Representative Peterson 6 00:00:30,934 --> 00:00:32,904 of Minnesota. 7 00:00:32,900 --> 00:00:35,200 The President is following the situation in Minnesota and North 8 00:00:35,200 --> 00:00:37,030 Dakota closely. 9 00:00:37,033 --> 00:00:40,063 He approved the disaster declaration last night and 10 00:00:40,066 --> 00:00:43,136 assured members of Congress that he will act on any request for 11 00:00:43,133 --> 00:00:45,233 assistance quickly. 12 00:00:45,233 --> 00:00:47,733 Secretary of Homeland Security has spoken to the North Dakota 13 00:00:47,734 --> 00:00:52,764 Governor to ask for what he needed and to convey that the 14 00:00:52,767 --> 00:00:55,867 government was coordinating at all levels. 15 00:00:55,867 --> 00:00:58,597 The ice floes in the river bear watching closely and the 16 00:00:58,600 --> 00:01:01,230 President assured members -- assured the members that the 17 00:01:01,233 --> 00:01:04,903 administration will do that, and remains ready to react as 18 00:01:04,900 --> 00:01:06,530 necessary. 19 00:01:06,533 --> 00:01:12,333 I'd also note that the President has watched with admiration as 20 00:01:12,333 --> 00:01:15,363 students whose schools have been closed joined volunteers from 21 00:01:15,367 --> 00:01:20,137 all over both states to assist first responders with sandbags 22 00:01:20,133 --> 00:01:22,533 and additional preparations. 23 00:01:22,533 --> 00:01:29,533 Secondly, I want to announce the bilateral meetings that 24 00:01:29,533 --> 00:01:36,003 President Obama will hold in London next week at the 25 00:01:36,000 --> 00:01:38,500 G20 summit. 26 00:01:38,500 --> 00:01:41,430 In addition to meeting, obviously, with Prime Minister 27 00:01:41,433 --> 00:01:45,163 Gordon Brown, the President will also meet with 28 00:01:45,166 --> 00:01:48,966 Her Majesty Queen Elizabeth II. 29 00:01:48,967 --> 00:01:51,397 On Wednesday, April 1st, President Obama will meet 30 00:01:51,400 --> 00:01:54,770 President Hu of China. 31 00:01:54,767 --> 00:01:57,537 Also on the 1st, President Obama will meet for the first time 32 00:01:57,533 --> 00:02:00,933 with Russian President Medvedev. 33 00:02:00,934 --> 00:02:03,534 On Thursday, April 2nd, President Obama will meet with 34 00:02:03,533 --> 00:02:08,503 Indian Prime Minister Singh, in addition to the President of the 35 00:02:08,500 --> 00:02:16,030 Republic of Korea, Lee -- that's also on April 2nd. 36 00:02:16,033 --> 00:02:19,533 And lastly, the President, as you know, has been on Capitol 37 00:02:19,533 --> 00:02:23,003 Hill this morning and is enormously pleased with the 38 00:02:23,000 --> 00:02:26,970 progress that both the House and the Senate are making on working 39 00:02:26,967 --> 00:02:32,497 toward a budget that reflects the priorities and the 40 00:02:32,500 --> 00:02:37,330 investments that he wanted to see in a budget. 41 00:02:37,333 --> 00:02:39,533 He's happy that those investments are on track to be 42 00:02:39,533 --> 00:02:47,363 made in this budget, and is also pleased that the budget also 43 00:02:47,367 --> 00:02:52,597 fulfills his goal of cutting the budget deficit that he inherited 44 00:02:52,600 --> 00:03:00,230 in half over the course of his term in office. 45 00:03:00,233 --> 00:03:03,363 Again, significant investments in health care reform, energy 46 00:03:03,367 --> 00:03:06,497 independence, and in education. 47 00:03:06,500 --> 00:03:09,570 So I'm sure there will be some more on that topic. 48 00:03:09,567 --> 00:03:11,297 And with that, Ms. Loven. 49 00:03:11,300 --> 00:03:13,270 Q: Thank you. 50 00:03:13,266 --> 00:03:15,936 Can you just describe a little bit more fully the meetings he 51 00:03:15,934 --> 00:03:19,264 had on the Hill, what some of the give-and-take was between 52 00:03:19,266 --> 00:03:20,296 them? 53 00:03:20,300 --> 00:03:22,400 MR. GIBBS: I'll get a better readout from -- Josh Earnest 54 00:03:22,400 --> 00:03:25,530 went up there with the President; I did not -- I did 55 00:03:25,533 --> 00:03:30,563 not travel with the President up to Capitol Hill today. 56 00:03:30,567 --> 00:03:33,897 I know that -- to answer more broadly, as I just said, I think 57 00:03:33,900 --> 00:03:36,930 the President is enormously pleased with the progress that 58 00:03:36,934 --> 00:03:45,334 the two committees are making; that the progress demonstrates 59 00:03:45,333 --> 00:03:48,763 that what the President set up and what those two budget 60 00:03:48,767 --> 00:03:52,667 committees are working on is to make important investments, as I 61 00:03:52,667 --> 00:03:55,997 said, in health care reform and ensuring that our children are 62 00:03:56,000 --> 00:03:59,330 educated for a 21st-century global economy, and to make 63 00:03:59,333 --> 00:04:02,833 necessary and needed investments in energy independence, all 64 00:04:02,834 --> 00:04:05,834 while cutting the budget deficit in half over the course of his 65 00:04:05,834 --> 00:04:07,334 term in office. 66 00:04:07,333 --> 00:04:11,133 Q: And I just had, quickly, a different topic. 67 00:04:11,133 --> 00:04:13,663 And did he come away from these meetings, do you think, with any 68 00:04:13,667 --> 00:04:20,067 more certainty that Democrats won't be -- up to this point, 69 00:04:20,066 --> 00:04:23,196 Democrats have been almost as loudly critical of the budget as 70 00:04:23,200 --> 00:04:25,770 Republicans and wanting certain changes made to it. 71 00:04:25,767 --> 00:04:28,797 Does he feel any differently about their -- Democrats' 72 00:04:28,800 --> 00:04:30,300 position after this meeting? 73 00:04:30,300 --> 00:04:33,430 MR. GIBBS: Let me focus, I think, on what Peter Orszag said 74 00:04:33,433 --> 00:04:36,703 in a conference call with some of you all this morning. 75 00:04:36,700 --> 00:04:39,800 The budget documents that the House and Senate are now 76 00:04:39,800 --> 00:04:45,930 considering -- they are about a 98 percent -- or about 98 77 00:04:45,934 --> 00:04:47,604 percent the same. 78 00:04:47,600 --> 00:04:52,000 So I know there's a tendency in this town to focus on the two of 79 00:04:52,000 --> 00:04:55,970 a hundred that you might not be getting. 80 00:04:55,967 --> 00:05:04,697 The President prefers to focus on the 98 percent that are in 81 00:05:04,700 --> 00:05:12,870 these budgets that are similar or identical to what he hoped 82 00:05:12,867 --> 00:05:16,837 each of the House and the Senate would do, and more importantly, 83 00:05:16,834 --> 00:05:19,964 as he's talked about and talked about last night, put our 84 00:05:19,967 --> 00:05:24,437 country on the path not just to renewed fiscal responsibility, 85 00:05:24,433 --> 00:05:27,803 but to making important investments that have long been 86 00:05:27,800 --> 00:05:33,070 delayed and instituting a strong foundation for long-term 87 00:05:33,066 --> 00:05:35,196 continued economic growth. 88 00:05:35,200 --> 00:05:40,030 I think both these budget documents appear to be headed 89 00:05:40,033 --> 00:05:42,433 strongly in that direction, and the President is 90 00:05:42,433 --> 00:05:44,203 pleased with that. 91 00:05:44,200 --> 00:05:46,500 Q: Can you say anything about the F-22 crash in California? 92 00:05:46,500 --> 00:05:48,530 MR. GIBBS: I just saw it as I was coming out, so I don't have 93 00:05:48,533 --> 00:05:53,063 anything on it, but we will try to get something on that. 94 00:05:53,066 --> 00:05:54,036 Q: In the meeting the President had with the NATO Secretary 95 00:05:54,033 --> 00:05:57,703 General today, was he able to brief him on the details of the 96 00:05:57,700 --> 00:05:59,170 Afghanistan review? 97 00:05:59,166 --> 00:06:03,136 And when is he going to make those details available to the 98 00:06:03,133 --> 00:06:05,003 public, and in what format? 99 00:06:05,000 --> 00:06:07,370 Is he going to give a speech about it or -- 100 00:06:07,367 --> 00:06:14,567 MR. GIBBS: I think it is -- when the President is ready to make 101 00:06:14,567 --> 00:06:20,737 an announcement, obviously we will -- that's likely to happen 102 00:06:20,734 --> 00:06:24,964 before we go overseas, and I would look for that as early as 103 00:06:24,967 --> 00:06:26,997 the next few days. 104 00:06:27,000 --> 00:06:32,300 I know that the President spoke about it today in the meeting. 105 00:06:32,300 --> 00:06:41,470 I don't know to the degree to which he fully briefed on that. 106 00:06:41,467 --> 00:06:45,097 But obviously, I think it's something you'll see as early as 107 00:06:45,100 --> 00:06:47,930 the next few days. 108 00:06:47,934 --> 00:06:49,734 Q: Okay, just one other question on a very different topic. 109 00:06:49,734 --> 00:06:52,264 I just wanted to follow up on the question that Major asked to 110 00:06:52,266 --> 00:06:55,896 the President last night about the dollar. 111 00:06:55,900 --> 00:06:56,530 MR. GIBBS: You mean Garrett? 112 00:06:56,533 --> 00:06:57,063 (Laughter.) 113 00:06:57,066 --> 00:06:57,866 Q: Ha ha ha. 114 00:06:57,867 --> 00:06:59,097 (Laughter.) 115 00:06:59,100 --> 00:07:02,930 Q: I'm just wondering is it -- is it a concern 116 00:07:02,934 --> 00:07:04,034 that the President is 117 00:07:04,033 --> 00:07:07,233 even being asked about the status of the dollar at a time 118 00:07:07,233 --> 00:07:11,303 when he's going to the G20 trying to show leadership on the 119 00:07:11,300 --> 00:07:14,870 economy, that questions are being raised about currency? 120 00:07:14,867 --> 00:07:16,937 MR. GIBBS: I don't blame Major at all for the question that he 121 00:07:16,934 --> 00:07:19,134 asked the President last evening. 122 00:07:19,133 --> 00:07:20,733 (Laughter.) No, I'm kidding. 123 00:07:20,734 --> 00:07:23,634 No, no, I -- 124 00:07:23,633 --> 00:07:27,633 Q: Do you think that it makes a statement about the questions 125 00:07:27,633 --> 00:07:30,463 that are being raised abroad about the American economy and 126 00:07:30,467 --> 00:07:31,867 its strength and the dollar -- 127 00:07:31,867 --> 00:07:35,897 MR. GIBBS: No, the President's first job in -- when he walked 128 00:07:35,900 --> 00:07:39,300 into this White House was to do everything he could to 129 00:07:39,300 --> 00:07:43,130 strengthen our economy, to create jobs, to get it back on a 130 00:07:43,133 --> 00:07:47,933 sound footing, to put it on a path towards sustained economic 131 00:07:47,934 --> 00:07:52,534 growth, but also to acknowledge that we've gotten away from 132 00:07:52,533 --> 00:07:57,363 fiscal sanity, and that this budget puts us back on a path 133 00:07:57,367 --> 00:08:02,397 towards doing something far more responsible with our budget. 134 00:08:02,400 --> 00:08:05,130 I've said, and the President has said now a couple of different 135 00:08:05,133 --> 00:08:12,333 times, that America is the strongest and safest place to 136 00:08:12,333 --> 00:08:13,933 invest in the world. 137 00:08:13,934 --> 00:08:17,464 And I think that will continue to be the case for 138 00:08:17,467 --> 00:08:20,167 a long, long time. 139 00:08:20,166 --> 00:08:23,236 But the President is -- the President is going to do what he 140 00:08:23,233 --> 00:08:25,603 thinks is in the best interest of the American people in 141 00:08:25,600 --> 00:08:29,130 getting the American economy growing and moving again. 142 00:08:29,133 --> 00:08:37,603 I think the steps that have been taken thus far in the Recovery 143 00:08:37,600 --> 00:08:41,670 Plan and in financial stability plans -- we've seen already 144 00:08:41,667 --> 00:08:46,967 domestically a drop in mortgage rates, some of which are 145 00:08:46,967 --> 00:08:52,767 attributable to the plan that was put forward to stabilize the 146 00:08:52,767 --> 00:08:55,997 housing market. 147 00:08:56,000 --> 00:08:58,530 I think the President is pleased with the progress that we've 148 00:08:58,533 --> 00:09:03,633 made, understanding that we've got a long way to go. 149 00:09:03,633 --> 00:09:08,063 And I don't think he's too worried about what other people 150 00:09:08,066 --> 00:09:10,936 might think about the actions that we're taking. 151 00:09:10,934 --> 00:09:12,164 Dan. 152 00:09:12,166 --> 00:09:15,396 Q: To focus on that 2 percent for a moment: 153 00:09:15,400 --> 00:09:16,430 Is the President at 154 00:09:16,433 --> 00:09:20,763 all disappointed that the middle-class tax cuts that he 155 00:09:20,767 --> 00:09:24,237 talked so much about on the campaign trail may not end up in 156 00:09:24,233 --> 00:09:25,863 the budget? 157 00:09:25,867 --> 00:09:28,837 MR. GIBBS: Well, let's understand what is -- what's 158 00:09:28,834 --> 00:09:31,264 already been signed into law. 159 00:09:31,266 --> 00:09:32,666 Q: Beyond -- 160 00:09:32,667 --> 00:09:33,667 MR. GIBBS: Right. 161 00:09:33,667 --> 00:09:37,397 But let's understand, again, that within the first month of 162 00:09:37,400 --> 00:09:41,670 walking into the White House, the President got his 163 00:09:41,667 --> 00:09:45,437 middle-class tax cut and Making Work Pay for 95 percent of 164 00:09:45,433 --> 00:09:49,533 working families in this country to be law for the first two 165 00:09:49,533 --> 00:09:51,533 years of his administration. 166 00:09:51,533 --> 00:09:58,703 Look, we're -- we understand that legislating 167 00:09:58,700 --> 00:10:02,270 is an active sport. 168 00:10:02,266 --> 00:10:08,596 But we've got now a couple of years to make decisions about 169 00:10:08,600 --> 00:10:13,470 how to include that for the long term. 170 00:10:13,467 --> 00:10:17,467 Again, I'd -- it's hard for me to focus exactly on what's going 171 00:10:17,467 --> 00:10:22,797 to happen in years three and four, when I think we feel 172 00:10:22,800 --> 00:10:27,470 pretty good about what we've gotten in years one and two. 173 00:10:27,467 --> 00:10:32,267 Obviously OMB announced today the creation of a task force to 174 00:10:32,266 --> 00:10:35,996 look into ideas of tax simplification and closing the 175 00:10:36,000 --> 00:10:41,570 tax gap in this country as a way of bringing about ideas -- 176 00:10:41,567 --> 00:10:46,637 bringing ideas forward as to how to make Making Work Pay 177 00:10:46,633 --> 00:10:49,063 permanent, and it still remains one of the President's 178 00:10:49,066 --> 00:10:50,696 priorities. 179 00:10:50,700 --> 00:10:53,730 Q: On another unrelated issue, the National Urban League today 180 00:10:53,734 --> 00:10:57,334 released a study talking about the disparity -- African 181 00:10:57,333 --> 00:11:00,763 Americans twice as likely to be unemployed, three times as 182 00:11:00,767 --> 00:11:04,237 likely to live in poverty, six times as likely 183 00:11:04,233 --> 00:11:05,763 to be incarcerated. 184 00:11:05,767 --> 00:11:09,937 What is the President's reaction to this? 185 00:11:09,934 --> 00:11:12,634 And I know that the Urban League is calling on the President to 186 00:11:12,633 --> 00:11:14,903 do something about these disparities. 187 00:11:14,900 --> 00:11:17,930 What's his reaction and what can he do to make this -- 188 00:11:17,934 --> 00:11:22,604 MR. GIBBS: Well, I think the best way to address a number of 189 00:11:22,600 --> 00:11:25,400 the statistics that you just mentioned are the same way the 190 00:11:25,400 --> 00:11:30,200 President talked about this last night, which is we have to get 191 00:11:30,200 --> 00:11:35,530 this economy moving again; we have to give job opportunities 192 00:11:35,533 --> 00:11:41,733 and hope to everybody in America, that -- and the best to 193 00:11:41,734 --> 00:11:44,504 do that is to get the economy moving again. 194 00:11:44,500 --> 00:11:49,300 Obviously the President has worked on, throughout his career 195 00:11:49,300 --> 00:11:54,430 in Illinois and in Washington, ways to reduce recidivism, to 196 00:11:54,433 --> 00:12:00,333 provide a second chance, and is working day and night to get 197 00:12:00,333 --> 00:12:03,103 that economy moving again and provide the opportunity that's 198 00:12:03,100 --> 00:12:07,530 needed to reduce homelessness and unemployment. 199 00:12:07,533 --> 00:12:08,963 Yes, sir. 200 00:12:08,967 --> 00:12:10,867 Q: If the President is as pleased as 201 00:12:10,867 --> 00:12:12,297 you say with progress today 202 00:12:12,300 --> 00:12:15,230 on the budget, does that mean that he got the leadership of 203 00:12:15,233 --> 00:12:17,503 his party to drop some of the conditions that they were 204 00:12:17,500 --> 00:12:21,870 beginning to put in there, like taking out health care, taking 205 00:12:21,867 --> 00:12:23,937 out -- perhaps taking out -- 206 00:12:23,934 --> 00:12:26,764 MR. GIBBS: Well, I don't -- I think if you'll read the budget 207 00:12:26,767 --> 00:12:29,797 document that is being worked on in the House and the Senate, 208 00:12:29,800 --> 00:12:34,500 health care is not taken out of the budget. 209 00:12:34,500 --> 00:12:40,970 The budget that we proposed was -- you've already -- you're 210 00:12:40,967 --> 00:12:44,267 already looking a little forlorn in my answer. 211 00:12:44,266 --> 00:12:45,666 We proposed -- 212 00:12:45,667 --> 00:12:47,167 Q: I'm looking at Ed; I've got more. (Laughter.) 213 00:12:47,166 --> 00:12:48,366 MR. GIBBS: Good, all right. 214 00:12:48,367 --> 00:12:50,667 Let me -- let me address the here and now. 215 00:12:50,667 --> 00:12:52,237 We can get to the what's next. 216 00:12:52,233 --> 00:12:56,663 The President proposed a deficit-neutral reserve fund for 217 00:12:56,667 --> 00:12:58,937 health care reform. 218 00:12:58,934 --> 00:13:02,564 Contained in the budget today is a deficit-neutral reserve fund 219 00:13:02,567 --> 00:13:04,967 for health care reform. 220 00:13:04,967 --> 00:13:08,537 We're quite pleased with that and think we're making progress 221 00:13:08,533 --> 00:13:11,363 towards cutting costs and reducing the 222 00:13:11,367 --> 00:13:13,037 number of uninsured. 223 00:13:13,033 --> 00:13:16,563 Q: If it cuts the deficit in half as you say -- 224 00:13:16,567 --> 00:13:17,367 MR. GIBBS: I don't say that. 225 00:13:17,367 --> 00:13:21,537 No, hold on, let's be fair -- hold on, let me do the 226 00:13:21,533 --> 00:13:22,103 here and now. 227 00:13:22,100 --> 00:13:24,370 I don't say that it cuts the deficit in half. 228 00:13:24,367 --> 00:13:26,837 The House Budget Committee document says it cuts the budget 229 00:13:26,834 --> 00:13:29,034 deficit in half. The Senate -- 230 00:13:29,033 --> 00:13:29,803 Q: All right, fair enough. 231 00:13:29,800 --> 00:13:30,700 MR. GIBBS: Hold on, I'll finish. 232 00:13:30,700 --> 00:13:34,670 The Senate document says it cuts the budget deficit in half. 233 00:13:34,667 --> 00:13:37,137 We proposed a plan that would cut the budget deficit in the 234 00:13:37,133 --> 00:13:40,103 House, and both the House and the Senate concur that that goal 235 00:13:40,100 --> 00:13:41,430 was met. 236 00:13:41,433 --> 00:13:43,503 Q: Using which assumptions? 237 00:13:43,500 --> 00:13:45,070 The OMB or the CBO? 238 00:13:45,066 --> 00:13:47,536 MR. GIBBS: Using the assumptions that they are to create the 239 00:13:47,533 --> 00:13:50,533 budget document that has to pass each committee before going to 240 00:13:50,533 --> 00:13:54,233 the floor and approved by both House and reconciled together to 241 00:13:54,233 --> 00:13:57,863 create the budget of the United States of America. 242 00:13:57,867 --> 00:13:59,767 Q: It seems less likely that they could get there using the 243 00:13:59,767 --> 00:14:02,967 CBO assumptions than they could using your 244 00:14:02,967 --> 00:14:04,837 more rosy assumptions. 245 00:14:04,834 --> 00:14:07,704 MR. GIBBS: I think Congress is, if I'm not mistaken, legally 246 00:14:07,700 --> 00:14:13,670 bound to using its own budget office for assumptions. 247 00:14:13,667 --> 00:14:16,367 So if the House has determined that the budget document that 248 00:14:16,367 --> 00:14:19,397 it's considering in its committee cuts the budget 249 00:14:19,400 --> 00:14:23,530 deficit in half using the congressionally mandated 250 00:14:23,533 --> 00:14:26,733 assumptions of the Congressional Budget Office, doesn't it meet 251 00:14:26,734 --> 00:14:29,764 the test you just laid out for me? 252 00:14:29,767 --> 00:14:30,337 Q: If they -- 253 00:14:30,333 --> 00:14:32,203 MR. GIBBS: And if the Senate were to do the same 254 00:14:32,200 --> 00:14:36,330 thing using the congressionally mandated assumptions in the 255 00:14:36,333 --> 00:14:40,933 Congressional Budget Office, wouldn't that also meet the test 256 00:14:40,934 --> 00:14:42,634 of cutting the budget deficit in half? 257 00:14:42,633 --> 00:14:46,533 Q: Yes, if in fact that's what's happened. 258 00:14:46,533 --> 00:14:49,433 MR. GIBBS: Well, I would suggest that a quick call to somebody on 259 00:14:49,433 --> 00:14:53,203 Capitol Hill will denote that -- if I'm believing what I read in 260 00:14:53,200 --> 00:14:57,400 the press -- and sometimes I temper that -- but I understand 261 00:14:57,400 --> 00:15:00,600 that we've met those objections and I think 262 00:15:00,600 --> 00:15:02,900 you can feel relieved. 263 00:15:02,900 --> 00:15:07,530 Q: And the President still gets what he wants in terms of energy 264 00:15:07,533 --> 00:15:08,803 and health care? 265 00:15:08,800 --> 00:15:10,670 MR. GIBBS: We have a deficit-neutral reserve fund for 266 00:15:10,667 --> 00:15:12,337 health care reform. 267 00:15:12,333 --> 00:15:14,563 There's a reserve fund for energy independence that will 268 00:15:14,567 --> 00:15:17,797 allow us to make critical investments in energy 269 00:15:17,800 --> 00:15:19,830 independence. That's in there. 270 00:15:19,834 --> 00:15:24,664 There are increases in education funding in addition to the $100 271 00:15:24,667 --> 00:15:28,497 billion in education increases that we saw in the Recovery and 272 00:15:28,500 --> 00:15:32,770 Reinvestment Plan, including in the budget changes that will 273 00:15:32,767 --> 00:15:36,737 update Pell Grants -- all of which magically using the 274 00:15:36,734 --> 00:15:39,764 Congressional Budget Office estimates cut the budget deficit 275 00:15:39,767 --> 00:15:43,937 in half in his first term as he pledged he would do. 276 00:15:43,934 --> 00:15:48,964 Q: Well, I want to get into this 98 percent that you claim -- 277 00:15:48,967 --> 00:15:53,897 because to go to -- one of the things they do is -- so if you 278 00:15:53,900 --> 00:15:57,530 have no middle-class tax cut that they take out, if there is 279 00:15:57,533 --> 00:16:01,463 no more honest budgeting as far as the TARP funds are concerned, 280 00:16:01,467 --> 00:16:03,137 that's one thing -- they seem to take it -- 281 00:16:03,133 --> 00:16:05,103 MR. GIBBS: Well, I think they -- you know, they've just -- 282 00:16:05,100 --> 00:16:06,200 they've accounted -- 283 00:16:06,200 --> 00:16:07,270 Q: -- cap and trade, which is something you 284 00:16:07,266 --> 00:16:08,336 needed to account for. 285 00:16:08,333 --> 00:16:09,003 You guys were -- 286 00:16:09,000 --> 00:16:09,800 MR. GIBBS: Well, understand that -- 287 00:16:09,800 --> 00:16:11,070 Q: -- revenue from cap and trade. 288 00:16:11,066 --> 00:16:13,096 MR. GIBBS: Right, well, that's why -- I mean, that's why Make 289 00:16:13,100 --> 00:16:15,530 Work Pay is not in years three and four of the budget. 290 00:16:15,533 --> 00:16:18,603 Q: I guess I'm just trying to figure out how you get to 90 -- 291 00:16:18,600 --> 00:16:19,970 why you believe this is a document that's 98 percent? 292 00:16:19,967 --> 00:16:23,667 And also, you guys made the case -- and I'm not going to judge 293 00:16:23,667 --> 00:16:26,197 whether 10 years or five years is more honest budgeting -- but 294 00:16:26,200 --> 00:16:29,770 you guys made a big deal out of this 10-year projection. 295 00:16:29,767 --> 00:16:31,497 And they're out saying, no, no, no, no, no, five-year 296 00:16:31,500 --> 00:16:32,170 projection. 297 00:16:32,166 --> 00:16:35,796 They also have the AMT -- they are taking the AMT fix out, 298 00:16:35,800 --> 00:16:37,030 which you said was part of it. 299 00:16:37,033 --> 00:16:39,003 So I'm just trying to figure out how you get to 98 percent -- 300 00:16:39,000 --> 00:16:39,930 MR. GIBBS: Well, because -- 301 00:16:39,934 --> 00:16:42,004 Q: -- because this was a document that's 98 percent, when 302 00:16:42,000 --> 00:16:43,930 there's a lot of things that you guys bragged about -- 303 00:16:43,934 --> 00:16:44,904 MR. GIBBS: Right, the spending -- 304 00:16:44,900 --> 00:16:46,070 Q: -- when you unveiled this budget, that's gone. 305 00:16:46,066 --> 00:16:48,296 MR. GIBBS: I think I would refer you to Peter's transcript, which 306 00:16:48,300 --> 00:16:49,970 I don't have with me -- 307 00:16:49,967 --> 00:16:50,697 Q: I have it. 308 00:16:50,700 --> 00:16:51,770 MR. GIBBS: -- that showed -- do you have it? 309 00:16:51,767 --> 00:16:52,267 Great. 310 00:16:52,266 --> 00:16:56,266 I think it's on page two where he's asked specifically about 311 00:16:56,266 --> 00:16:58,566 the spending differences in the House and the Senate. 312 00:16:58,567 --> 00:17:01,397 And I think the spending difference in the House is less 313 00:17:01,400 --> 00:17:05,200 than 1 percent, and the spending difference in the Senate is less 314 00:17:05,200 --> 00:17:08,100 than 1.5 percent. 315 00:17:08,100 --> 00:17:10,670 Q: But you're saying the President is satisfied to sort 316 00:17:10,667 --> 00:17:13,867 of -- there's some parts of the honest budgeting thing that you 317 00:17:13,867 --> 00:17:14,767 guys were really proud of -- 318 00:17:14,767 --> 00:17:18,597 MR. GIBBS: And change is not easy to bring in Washington. 319 00:17:18,600 --> 00:17:21,130 The President -- would the President like to see a 320 00:17:21,133 --> 00:17:22,133 10-year budget? 321 00:17:22,133 --> 00:17:25,703 Would the President like to see disasters fully accounted for? 322 00:17:25,700 --> 00:17:29,700 Would the President like to see budgeting that accounts for the 323 00:17:29,700 --> 00:17:33,800 possibility of more money to stabilize our financial system? 324 00:17:33,800 --> 00:17:35,100 Yes. 325 00:17:35,100 --> 00:17:36,270 Q: And you acknowledge that -- 326 00:17:36,266 --> 00:17:38,336 MR. GIBBS: I hesitate to say I'm almost positive that many in 327 00:17:38,333 --> 00:17:41,663 this room, including Bill, have yet to give the President credit 328 00:17:41,667 --> 00:17:43,667 for such a thing. 329 00:17:43,667 --> 00:17:44,937 Q: But you acknowledge that Congress doesn't have any of 330 00:17:44,934 --> 00:17:45,964 that stuff in there. 331 00:17:45,967 --> 00:17:49,337 MR. GIBBS: Well, I'm going to wait, like Bill, and see what's 332 00:17:49,333 --> 00:17:50,633 in there. (Laughter.) 333 00:17:50,633 --> 00:17:52,503 Q: But that's 98 percent -- I mean -- I don't mean -- but you 334 00:17:52,500 --> 00:17:55,300 throw the 98 percent out there as a way to, you know, to sort 335 00:17:55,300 --> 00:17:57,170 of lecture us, saying, oh, you guys are just focused on 2 336 00:17:57,166 --> 00:17:57,736 percent. 337 00:17:57,734 --> 00:17:59,804 But is it really -- are we really focusing on 2 percent? 338 00:17:59,800 --> 00:18:01,370 It's a lot of -- 339 00:18:01,367 --> 00:18:02,597 MR. GIBBS: Or one-point-something percent like 340 00:18:02,600 --> 00:18:03,300 Peter -- 341 00:18:03,300 --> 00:18:05,270 Q: No, but that's a lot of rhetorical pledges that you guys 342 00:18:05,266 --> 00:18:06,336 talked about earlier that -- 343 00:18:06,333 --> 00:18:07,633 MR. GIBBS: Yes, well -- I mean, look -- 344 00:18:07,633 --> 00:18:08,603 Q: -- that have been -- 345 00:18:08,600 --> 00:18:09,600 MR. GIBBS: But let's also understand -- again, let's 346 00:18:09,600 --> 00:18:10,500 understand what's in the budget. 347 00:18:10,500 --> 00:18:13,370 The President wanted a deficit-neutral reserve fund for 348 00:18:13,367 --> 00:18:15,237 health care reform, and he gets one. 349 00:18:15,233 --> 00:18:18,933 The President wanted investments in clean energy, so that we 350 00:18:18,934 --> 00:18:21,964 wouldn't be at the whim of foreign countries for the 351 00:18:21,967 --> 00:18:24,437 importation of our fuel, and we get one. 352 00:18:24,433 --> 00:18:26,763 The President wanted increases in educational spending to 353 00:18:26,767 --> 00:18:29,867 create a workforce that's ready for a 21st century economy, and 354 00:18:29,867 --> 00:18:30,867 he gets it. 355 00:18:30,867 --> 00:18:35,437 The President wanted to cut the deficit in half over the course 356 00:18:35,433 --> 00:18:38,963 of his first four years in office, and it happens. 357 00:18:38,967 --> 00:18:42,397 The President wanted Congress to budget for and account for the 358 00:18:42,400 --> 00:18:45,130 spending in the wars in IraQ: and Afghanistan, 359 00:18:45,133 --> 00:18:46,633 and that's in there. 360 00:18:46,633 --> 00:18:48,503 Did the President get everything he wanted? 361 00:18:48,500 --> 00:18:49,330 No. 362 00:18:49,333 --> 00:18:51,833 I think Presidents rarely do get everything they want. 363 00:18:51,834 --> 00:18:53,964 Is the President satisfied that we're making critical 364 00:18:53,967 --> 00:18:57,897 investments in health care reform, education reform, energy 365 00:18:57,900 --> 00:19:00,900 independence, all while cutting the deficit in half in just four 366 00:19:00,900 --> 00:19:03,370 years? He's pleased with that. 367 00:19:03,367 --> 00:19:04,767 Q: Strictly speaking on budget shortfalls, the Postal Service 368 00:19:04,767 --> 00:19:07,837 is up there testifying today they may not be able to make 369 00:19:07,834 --> 00:19:11,934 payroll without a bailout. 370 00:19:11,934 --> 00:19:13,964 MR. GIBBS: The check isn't in the mail. (Laughter.) 371 00:19:13,967 --> 00:19:18,697 Q: That's part of the problem: People aren't mailing checks. 372 00:19:18,700 --> 00:19:20,970 So they don't have -- they may not be able to make payroll in 373 00:19:20,967 --> 00:19:23,597 September, at the end of their fiscal year. 374 00:19:23,600 --> 00:19:26,030 Does the President -- and they may want to cut back and say, 375 00:19:26,033 --> 00:19:28,563 where's the President on this -- MR. GIBBS: I can certainly check 376 00:19:28,567 --> 00:19:29,537 on that. 377 00:19:29,533 --> 00:19:30,063 Q: -- does he -- 378 00:19:30,066 --> 00:19:31,596 MR. GIBBS: I don't have anything on the Postal Service for you, 379 00:19:31,600 --> 00:19:34,230 but I can certainly check. Laura. 380 00:19:34,233 --> 00:19:35,203 Q: Thank you. 381 00:19:35,200 --> 00:19:38,500 You said that you were not in the meetings with the President 382 00:19:38,500 --> 00:19:40,570 on the Hill today, and I respect that. 383 00:19:40,567 --> 00:19:45,037 But going into the meeting, what was the President's message to 384 00:19:45,033 --> 00:19:46,203 the Democrats that he met with? 385 00:19:46,200 --> 00:19:50,470 Was it: Here are my priorities, and this is what I'd like you -- 386 00:19:50,467 --> 00:19:52,297 my priorities to be your priorities; we're all on the 387 00:19:52,300 --> 00:19:55,630 same team. Was it party unity? What exactly did he -- 388 00:19:55,633 --> 00:19:57,063 MR. GIBBS: I think a little bit of both. 389 00:19:57,066 --> 00:20:01,636 But I don't think he has to convince the members of the 390 00:20:01,633 --> 00:20:05,003 Democratic Senate Caucus that we need to make important 391 00:20:05,000 --> 00:20:08,230 investments in health care, energy, education, and put 392 00:20:08,233 --> 00:20:11,933 ourselves back on the path toward fiscal responsibility. 393 00:20:11,934 --> 00:20:13,804 Q: What did he want to say to them that -- 394 00:20:13,800 --> 00:20:15,970 MR. GIBBS: Well, the President talked to -- the President did 395 00:20:15,967 --> 00:20:22,197 as he did last night in front of many of you, which was to 396 00:20:22,200 --> 00:20:28,070 advocate for his budget and his priorities, to understand that 397 00:20:28,066 --> 00:20:33,596 for a long period of time we've failed to make investments, to 398 00:20:33,600 --> 00:20:38,500 lay a path toward long-term economic growth, that instead 399 00:20:38,500 --> 00:20:43,570 we've sort of depended on bubble and bust; that we are making 400 00:20:43,567 --> 00:20:46,167 those investments, putting ourselves back on a path toward 401 00:20:46,166 --> 00:20:48,736 fiscal responsibility, and that working together we can 402 00:20:48,734 --> 00:20:50,364 see this happen. 403 00:20:50,367 --> 00:20:52,537 Q: So his message to them was no different than the things he's 404 00:20:52,533 --> 00:20:54,203 been saying publicly all along? 405 00:20:54,200 --> 00:20:55,130 MR. GIBBS: Yes. 406 00:20:55,133 --> 00:20:59,733 Q: And how concerned are you in terms of if there is additional 407 00:20:59,734 --> 00:21:02,004 bailout funds, which you referred to a moment ago, if 408 00:21:02,000 --> 00:21:04,700 they are not included in the budget, how concerned are you 409 00:21:04,700 --> 00:21:08,400 about the administration's ability to deal with another 410 00:21:08,400 --> 00:21:11,070 problem if it were to come along? 411 00:21:11,066 --> 00:21:16,236 MR. GIBBS: The economic team is confident in the resources that 412 00:21:16,233 --> 00:21:21,203 they have previously appropriated in the Troubled 413 00:21:21,200 --> 00:21:24,330 Asset Recovery Program. 414 00:21:24,333 --> 00:21:29,763 And obviously the plan that Treasury put forward earlier 415 00:21:29,767 --> 00:21:36,537 this week uses a mix of public and private investors to ensure 416 00:21:36,533 --> 00:21:37,433 that stability. 417 00:21:37,433 --> 00:21:42,963 So I think the plan that they outlined leverages a much larger 418 00:21:42,967 --> 00:21:47,737 amount of money to stabilize the system, and they think they're 419 00:21:47,734 --> 00:21:48,604 okay. 420 00:21:48,600 --> 00:21:50,530 Q: So if you're confident you'll be fine, then why did you ask 421 00:21:50,533 --> 00:21:52,303 for $750 billion? 422 00:21:52,300 --> 00:21:56,130 MR. GIBBS: Well, we asked for as part of a budget plan to account 423 00:21:56,133 --> 00:21:59,063 for the possibility that it may be needed. 424 00:21:59,066 --> 00:22:04,566 But obviously I think in the middle -- middle to late April 425 00:22:04,567 --> 00:22:07,997 we'll get bank health assessments back that give us a 426 00:22:08,000 --> 00:22:13,030 better sense of exactly what banks are holding and what might 427 00:22:13,033 --> 00:22:19,133 be necessary in a worst-case economic downturn. 428 00:22:19,133 --> 00:22:25,363 You know, we wanted to account for that -- for the possibility 429 00:22:25,367 --> 00:22:27,167 that it ultimately might be needed. 430 00:22:27,166 --> 00:22:29,936 Q: Robert, can you talk a little bit about tomorrow's online 431 00:22:29,934 --> 00:22:31,704 forum, how the questions are going to be chosen? 432 00:22:31,700 --> 00:22:34,200 I know that there's some voting going on online right now, but 433 00:22:34,200 --> 00:22:36,600 is there going to be another process to kind of go through 434 00:22:36,600 --> 00:22:38,570 all of them, make sure that they're all read? 435 00:22:38,567 --> 00:22:39,397 And also, what -- 436 00:22:39,400 --> 00:22:41,870 MR. GIBBS: Bill is voting right now. (Laughter.) 437 00:22:41,867 --> 00:22:43,437 Q: And what is the President hoping to get 438 00:22:43,433 --> 00:22:44,463 accomplished with this? 439 00:22:44,467 --> 00:22:47,097 I mean, is this another way to sort of pitch his budget, or 440 00:22:47,100 --> 00:22:48,100 what's the intent? 441 00:22:48,100 --> 00:22:52,100 MR. GIBBS: Well, I think the -- I mean, obviously -- and I'm a 442 00:22:52,100 --> 00:22:54,600 little less tech-savvy than the folks that are putting this 443 00:22:54,600 --> 00:22:58,970 together, but we -- (laughter) -- we wanted to -- look, I think 444 00:22:58,967 --> 00:23:01,937 the President wanted to give the opportunity for people that 445 00:23:01,934 --> 00:23:09,104 might watch all over the country to vote on areas in which we've 446 00:23:09,100 --> 00:23:11,570 talked about and that are important priorities for the 447 00:23:11,567 --> 00:23:16,197 administration, like education, energy independence and health 448 00:23:16,200 --> 00:23:21,830 care reform, to give them a chance to ask the President 449 00:23:21,834 --> 00:23:25,604 about some of those issues, along with our 450 00:23:25,600 --> 00:23:27,770 economic recovery. 451 00:23:27,767 --> 00:23:32,167 The President just thinks it's another opportunity to talk 452 00:23:32,166 --> 00:23:34,566 directly with the American people about the challenges that 453 00:23:34,567 --> 00:23:38,397 we have, the choices and the decisions that we're making, and 454 00:23:38,400 --> 00:23:43,800 the path that we're -- the path that we're taking to get us back 455 00:23:43,800 --> 00:23:45,770 to prosperous days. 456 00:23:45,767 --> 00:23:50,237 So it's a -- it's not a whole lot different than when we were 457 00:23:50,233 --> 00:23:53,433 in California doing the meeting, it's just we'll have people 458 00:23:53,433 --> 00:23:56,063 hooked up from a lot of different places all 459 00:23:56,066 --> 00:23:57,066 over the country. 460 00:23:57,066 --> 00:24:01,636 But he'll be able to do all that from the East Room. 461 00:24:01,633 --> 00:24:03,103 Yes, sir. 462 00:24:03,100 --> 00:24:06,430 Q: Robert, there are a couple of legislative proposals floating 463 00:24:06,433 --> 00:24:09,663 around on the plight of the nation's newspapers -- tax 464 00:24:09,667 --> 00:24:13,067 considerations and other issues. 465 00:24:13,066 --> 00:24:15,766 Has the administration weighed in on this, and what, if 466 00:24:15,767 --> 00:24:20,097 anything, do you think the government's role should be? 467 00:24:20,100 --> 00:24:21,870 MR. GIBBS: Boy, I'm going to answer this question carefully. 468 00:24:21,867 --> 00:24:24,137 (Laughter.) Joking. 469 00:24:24,133 --> 00:24:27,133 I have -- I will check and see if the administration has 470 00:24:27,133 --> 00:24:30,033 weighed in, in any way. 471 00:24:30,033 --> 00:24:32,733 I saw a blurb about them, but I don't know whether or not the 472 00:24:32,734 --> 00:24:38,734 administration has in any way taken a position 473 00:24:38,734 --> 00:24:40,464 on that legislation. 474 00:24:40,467 --> 00:24:42,967 Q: From a philosophical standpoint, do you think the 475 00:24:42,967 --> 00:24:46,437 government should have a role in saving companies -- 476 00:24:46,433 --> 00:24:50,263 MR. GIBBS: Let me -- let me get some specifics from folks who 477 00:24:50,266 --> 00:24:56,496 would have a better sense -- obviously, strong believer in 478 00:24:56,500 --> 00:25:00,400 freedom of speech and -- but I don't have anything on the 479 00:25:00,400 --> 00:25:03,000 specific -- let me check on whether there's any specific 480 00:25:03,000 --> 00:25:05,200 guidance on the legislation. 481 00:25:05,200 --> 00:25:07,730 I'll note that a radio guy asked that question. 482 00:25:07,734 --> 00:25:12,734 (Laughter.) David Jackson seems relieved. 483 00:25:12,734 --> 00:25:13,734 (Laughter.) 484 00:25:13,734 --> 00:25:17,734 Q: An hour or so ago there were some reports about missiles on a 485 00:25:17,734 --> 00:25:20,634 launch pad in North Korea. 486 00:25:20,633 --> 00:25:23,063 Is that causing any concern here? 487 00:25:23,066 --> 00:25:25,566 What -- can you tell us anything about that? 488 00:25:25,567 --> 00:25:30,997 MR. GIBBS: I have not seen those reports. 489 00:25:31,000 --> 00:25:33,700 Q: All right. Another question. 490 00:25:33,700 --> 00:25:37,270 On Friday, the President is having bankers come in. 491 00:25:37,266 --> 00:25:41,536 Can you talk to us a little bit about the nature of that, who's 492 00:25:41,533 --> 00:25:43,203 coming, and why? 493 00:25:43,200 --> 00:25:47,470 And is he making any requests of the bankers? 494 00:25:47,467 --> 00:25:50,967 MR. GIBBS: Well, I think along the lines of what the President 495 00:25:50,967 --> 00:25:54,497 said in interviews -- in an interview over the weekend -- 496 00:25:54,500 --> 00:26:02,000 and we'll provide a list of the CEOs that will be here. 497 00:26:02,000 --> 00:26:06,200 I think the President wants to talk to them -- obviously 498 00:26:06,200 --> 00:26:11,830 Secretary Geithner will testify tomorrow on regulatory reform. 499 00:26:11,834 --> 00:26:19,034 The President and the Secretary have talked about the idea of 500 00:26:19,033 --> 00:26:25,333 giving the government the ability to resolve systemic 501 00:26:25,333 --> 00:26:32,263 risks that pose great problems to our financial system were 502 00:26:32,266 --> 00:26:35,236 they to get into trouble. 503 00:26:35,233 --> 00:26:38,733 I think the President looks forward to getting an update on 504 00:26:38,734 --> 00:26:42,864 what they're seeing happening in the economy. 505 00:26:42,867 --> 00:26:47,867 And I think, much as the President said, like he said 506 00:26:47,867 --> 00:26:53,437 this past weekend, that Main Street and Wall Street, all of 507 00:26:53,433 --> 00:27:00,563 us are in this together. We're all in the same boat. 508 00:27:00,567 --> 00:27:04,897 We have to understand that what is -- what is good for one has 509 00:27:04,900 --> 00:27:07,430 to be also good for the other. 510 00:27:07,433 --> 00:27:11,733 So I think the President will talk to the bankers about -- 511 00:27:11,734 --> 00:27:18,504 about that, and I anticipate that some of the concerns that 512 00:27:18,500 --> 00:27:22,800 we've read about over the past two weeks will be mentioned. 513 00:27:22,800 --> 00:27:25,230 It's not intended in any way to be the focus of the meeting, but 514 00:27:25,233 --> 00:27:29,103 I think the President wants to have a discussion with the 515 00:27:29,100 --> 00:27:32,170 leading bankers in America about ways to get the economy 516 00:27:32,166 --> 00:27:34,196 stabilized and moving again. 517 00:27:34,200 --> 00:27:36,570 Q: Is executive compensation going to be on the agenda? 518 00:27:36,567 --> 00:27:40,737 MR. GIBBS: I imagine that will be mentioned in the meeting, 519 00:27:40,734 --> 00:27:42,434 yes. Major. 520 00:27:42,433 --> 00:27:44,103 Q: Robert, last night the President said he does not 521 00:27:44,100 --> 00:27:46,730 believe there's any need for a global currency. 522 00:27:46,734 --> 00:27:48,864 This morning, at the Council on Foreign Relations, Treasury 523 00:27:48,867 --> 00:27:52,697 Secretary Geithner was asked about that, and he said that the 524 00:27:52,700 --> 00:27:55,030 suggestion originally made by the Chinese Central Bank 525 00:27:55,033 --> 00:27:59,663 Governor is one that deserves consideration, and he called the 526 00:27:59,667 --> 00:28:02,567 Governor someone whose credibility is -- has a great 527 00:28:02,567 --> 00:28:03,867 record of credibility. 528 00:28:03,867 --> 00:28:06,437 And it sounded as if the Treasury Secretary was at least 529 00:28:06,433 --> 00:28:08,733 opening the door to this as a concept. 530 00:28:08,734 --> 00:28:12,104 Since this is likely to come up at the G20, can you say 531 00:28:12,100 --> 00:28:13,770 definitively that it's not something that the 532 00:28:13,767 --> 00:28:16,137 administration is open to and is not going to consider 533 00:28:16,133 --> 00:28:17,133 under any basis? 534 00:28:17,133 --> 00:28:20,933 MR. GIBBS: Well, I think the Secretary of Treasury has put 535 00:28:20,934 --> 00:28:28,134 out a statement saying that and echoing what the President said 536 00:28:28,133 --> 00:28:35,003 last night, that the dollar will be the reserve currency for a 537 00:28:35,000 --> 00:28:37,870 long, long time. 538 00:28:37,867 --> 00:28:38,737 Q: Two other quick ones. 539 00:28:38,734 --> 00:28:42,004 Yesterday on the Hill, representatives of the Fed and 540 00:28:42,000 --> 00:28:45,000 the FDIC briefed folks on the Banking Committee saying, if in 541 00:28:45,000 --> 00:28:47,870 fact there is cram-down legislation passed and signed by 542 00:28:47,867 --> 00:28:50,797 the President, it could diminish the value of some of the very 543 00:28:50,800 --> 00:28:53,930 toxic assets the administration, with the plan announced this 544 00:28:53,934 --> 00:28:58,064 week, is hoping outside investors will purchase. 545 00:28:58,066 --> 00:29:00,696 Does the administration believe these two things are now on a 546 00:29:00,700 --> 00:29:03,530 collision course, and what would it choose to -- what would it 547 00:29:03,533 --> 00:29:04,463 prefer to do? 548 00:29:04,467 --> 00:29:08,667 Not have cram-down legislation and let the toxic asset plan 549 00:29:08,667 --> 00:29:11,137 that's been announced proceed? 550 00:29:11,133 --> 00:29:13,563 Or have cram-down legislation that could diminish the value of 551 00:29:13,567 --> 00:29:14,937 these things and make them hard to sell? 552 00:29:14,934 --> 00:29:20,034 MR. GIBBS: Let me -- I'm not aware of what FDIC and Fed -- 553 00:29:20,033 --> 00:29:23,633 I'm not aware of what they spoke about. 554 00:29:23,633 --> 00:29:25,763 Let me get some idea -- 555 00:29:25,767 --> 00:29:28,737 Q: In general, is the cram-down legislation something that could 556 00:29:28,734 --> 00:29:30,164 complicate this plan? 557 00:29:30,166 --> 00:29:33,396 MR. GIBBS: Well, again, let me get some better understanding of 558 00:29:33,400 --> 00:29:34,430 what they told the committee. 559 00:29:34,433 --> 00:29:40,463 I think the President, the FDIC and the Fed have worked -- all 560 00:29:40,467 --> 00:29:45,097 worked together to develop the plan that Secretary Geithner 561 00:29:45,100 --> 00:29:47,430 talked about on Tuesday. 562 00:29:47,433 --> 00:29:55,103 So I think it's very safe to assume that in working together 563 00:29:55,100 --> 00:29:57,870 they're all supportive of that idea. 564 00:29:57,867 --> 00:30:05,367 They're also supportive of the ability to resolve systemic 565 00:30:05,367 --> 00:30:10,237 risks in our economy, as the Secretary and the Fed Chair 566 00:30:10,233 --> 00:30:11,763 talked about yesterday. 567 00:30:11,767 --> 00:30:13,597 I don't have anything specifically on -- I'll look for 568 00:30:13,600 --> 00:30:15,200 some guidance on that and we can talk. 569 00:30:15,200 --> 00:30:15,830 Q: Last quick one. 570 00:30:15,834 --> 00:30:18,734 The Washington Post blogged last night that there's an effort to 571 00:30:18,734 --> 00:30:21,434 expunge or get rid of the terminology "global war on 572 00:30:21,433 --> 00:30:23,003 terrorism." 573 00:30:23,000 --> 00:30:25,730 Can you tell me if that's true or untrue and what, if anything, 574 00:30:25,734 --> 00:30:29,934 the administration has for or against that particular phrase? 575 00:30:29,934 --> 00:30:32,904 MR. GIBBS: Well, I -- you know, I saw the blog and I saw the 576 00:30:32,900 --> 00:30:40,700 comments from OMB. 577 00:30:40,700 --> 00:30:46,470 There's no language or memo certainly that I've seen or has 578 00:30:46,467 --> 00:30:50,367 been passed around. 579 00:30:50,367 --> 00:30:53,537 I think from the President's perspective, I think the 580 00:30:53,533 --> 00:30:57,633 phraseology is -- he's far less concerned with and much more 581 00:30:57,633 --> 00:31:02,163 concerned with steps that he's taken and that we need to take 582 00:31:02,166 --> 00:31:06,196 as a country to protect our citizens and to keep our 583 00:31:06,200 --> 00:31:08,130 homeland safe. 584 00:31:08,133 --> 00:31:11,303 And I think that's what he's focused on. 585 00:31:11,300 --> 00:31:14,000 But I'm -- I have not seen or am unaware of said memo. 586 00:31:14,000 --> 00:31:14,570 Mike. 587 00:31:14,567 --> 00:31:16,437 Q: Robert, can you talk a little more about what the President 588 00:31:16,433 --> 00:31:18,903 would like to see come out of this tax reform panel? 589 00:31:18,900 --> 00:31:22,130 Is he looking for ideas to raise revenue, close loopholes? 590 00:31:22,133 --> 00:31:25,863 I know Orszag talked about corporate welfare, and could you 591 00:31:25,867 --> 00:31:27,137 give some example of that? 592 00:31:27,133 --> 00:31:30,533 MR. GIBBS: Well, I -- you know, without getting too far ahead of 593 00:31:30,533 --> 00:31:35,663 where the task force is, obviously, as Peter described in 594 00:31:35,667 --> 00:31:38,367 his call -- and if you guys don't have a transcript, we can 595 00:31:38,367 --> 00:31:44,867 certainly make it available -- there is obviously a tax gap in 596 00:31:44,867 --> 00:31:45,667 the country. 597 00:31:45,667 --> 00:31:52,497 Many have talked about the fact that several hundred billion 598 00:31:52,500 --> 00:31:56,770 dollars each year of taxes goes uncollected. 599 00:31:56,767 --> 00:32:02,897 The President addressed the need and necessity to close tax 600 00:32:02,900 --> 00:32:09,600 loopholes in his budget in order to institute fairness 601 00:32:09,600 --> 00:32:11,370 in our tax code. 602 00:32:11,367 --> 00:32:17,337 And so the President has asked the recovery board to take a 603 00:32:17,333 --> 00:32:24,503 look at and forward to him by Friday, December 4th, ideas for 604 00:32:24,500 --> 00:32:28,700 exactly how -- what loopholes might be looked at or might be 605 00:32:28,700 --> 00:32:37,230 closed; that the size of the tax gap and ways to ensure that 606 00:32:37,233 --> 00:32:39,003 that's closed, as Peter said. 607 00:32:39,000 --> 00:32:43,700 I think the charge of the board is to do all of those things, 608 00:32:43,700 --> 00:32:50,000 and understand that recommendations -- the President 609 00:32:50,000 --> 00:32:51,800 is not interested in recommendations that would 610 00:32:51,800 --> 00:32:56,970 affect people that make $250,000 or less, as he said repeatedly 611 00:32:56,967 --> 00:32:58,397 during the campaign. 612 00:32:58,400 --> 00:33:00,370 Q: Did Mr. Orszag have anything specific in mind when he talked 613 00:33:00,367 --> 00:33:01,767 about corporate welfare? 614 00:33:01,767 --> 00:33:08,897 MR. GIBBS: No, I -- look I think we've talked about -- we've 615 00:33:08,900 --> 00:33:11,030 talked about some of them, and some of them are certainly in 616 00:33:11,033 --> 00:33:17,263 the budget, whether it's cuts in ag spending for large corporate 617 00:33:17,266 --> 00:33:20,036 farms, things like that. 618 00:33:20,033 --> 00:33:24,803 Obviously this is -- the hope of what this task force will do is 619 00:33:24,800 --> 00:33:29,200 take an honest look at the budget and go through and 620 00:33:29,200 --> 00:33:34,600 determine if there are steps that can be taken by Congress 621 00:33:34,600 --> 00:33:38,430 and this President to institute greater fairness in the tax code 622 00:33:38,433 --> 00:33:41,663 and how that would affect putting us back on that path to 623 00:33:41,667 --> 00:33:44,137 fiscal sustainability. Sheryl. 624 00:33:44,133 --> 00:33:47,233 Q: Robert, the President talked last night about urging 625 00:33:47,233 --> 00:33:49,763 Americans to look beyond their self-interest. 626 00:33:49,767 --> 00:33:52,067 Tonight he's going to two political fundraisers, one of 627 00:33:52,066 --> 00:33:54,696 them $30,000 a couple. 628 00:33:54,700 --> 00:33:57,270 Is that an example of looking beyond our self-interest? 629 00:33:57,266 --> 00:34:00,366 And are you worried about the tone that that sets in a time 630 00:34:00,367 --> 00:34:01,937 when Americans are struggling? 631 00:34:01,934 --> 00:34:05,334 MR. GIBBS: No, I think you -- I think when you -- though I hope 632 00:34:05,333 --> 00:34:10,863 he's not placid and unsmiling -- I think you'll see in the 633 00:34:10,867 --> 00:34:13,837 remarks he makes tonight and I think you can be rest assured in 634 00:34:13,834 --> 00:34:17,734 the remarks he's made yesterday that he fully understands the 635 00:34:17,734 --> 00:34:22,664 hardships and the troubles that the American people are 636 00:34:22,667 --> 00:34:25,637 undergoing in their lives each day. 637 00:34:25,633 --> 00:34:29,063 But I think it's also safe to assume that the President wants 638 00:34:29,066 --> 00:34:33,766 to see a strong party system in this country. 639 00:34:33,767 --> 00:34:37,937 And I would mention that in that, the -- we haven't seen 640 00:34:37,934 --> 00:34:46,804 politics by either party stop in this period, though I think the 641 00:34:46,800 --> 00:34:48,900 President fully understands the situation 642 00:34:48,900 --> 00:34:50,830 the American people face. 643 00:34:50,834 --> 00:34:54,964 Q: Will he urge some of those donors to contribute to charity 644 00:34:54,967 --> 00:34:57,867 or use his remarks in some other way to -- 645 00:34:57,867 --> 00:34:59,737 MR. GIBBS: Well, I -- look, I -- 646 00:34:59,734 --> 00:35:01,304 Q: note the broader situation as -- 647 00:35:01,300 --> 00:35:04,230 MR. GIBBS: Well, I think the -- I think the situation will -- I 648 00:35:04,233 --> 00:35:05,863 think the remarks will denote the situation. 649 00:35:05,867 --> 00:35:10,197 I think the remarks will denote the actions that he's taking to 650 00:35:10,200 --> 00:35:12,630 change the situation in this country. 651 00:35:12,633 --> 00:35:18,903 I think the President has been focused every day on how to make 652 00:35:18,900 --> 00:35:24,000 the situation for average Americans better. 653 00:35:24,000 --> 00:35:27,870 He always encourages people to get involved, to knock on doors, 654 00:35:27,867 --> 00:35:33,197 to give to charity, and to do whatever they can to help out 655 00:35:33,200 --> 00:35:34,970 their neighbors. Yes, sir. 656 00:35:34,967 --> 00:35:36,467 Q: Robert, just a couple quick -- more about 657 00:35:36,467 --> 00:35:38,597 tomorrow's online forum. 658 00:35:38,600 --> 00:35:40,830 First of all, is this going to be a regular feature, has the 659 00:35:40,834 --> 00:35:42,304 President had in mind doing something like this? 660 00:35:42,300 --> 00:35:45,000 MR. GIBBS: Yes, I -- you know, again, it's a way for the 661 00:35:45,000 --> 00:35:51,230 President to do what he enjoys doing out on the road, but saves 662 00:35:51,233 --> 00:35:56,033 on gas. (Laughter.) 663 00:35:56,033 --> 00:35:59,633 Q: Should we also see this in the context of the weekend -- 664 00:35:59,633 --> 00:36:02,463 you know, going door to door, political organization as well 665 00:36:02,467 --> 00:36:07,567 as -- sort of like nonstop, 24/7, keeping in touch with the 666 00:36:07,567 --> 00:36:08,367 American people? 667 00:36:08,367 --> 00:36:12,097 MR. GIBBS: Well, I mean, again, I think the President -- this 668 00:36:12,100 --> 00:36:15,000 was part of what he wanted to do last night and what he told the 669 00:36:15,000 --> 00:36:21,000 American people in his opening statement, which was -- I think 670 00:36:21,000 --> 00:36:23,470 he looks at all these opportunities as a way of 671 00:36:23,467 --> 00:36:28,237 providing an update to the American people about the steps 672 00:36:28,233 --> 00:36:31,963 that we're taking to get us, as he said last night, from 673 00:36:31,967 --> 00:36:35,667 recession to recovery; to document the challenges that we 674 00:36:35,667 --> 00:36:43,997 have; but also understand that steps are being taken and that 675 00:36:44,000 --> 00:36:48,630 if we follow through on this, that brighter days are ahead, as 676 00:36:48,633 --> 00:36:49,663 they always have been for this country. 677 00:36:49,667 --> 00:36:51,697 So I think it's just another opportunity for him to 678 00:36:51,700 --> 00:36:53,270 communicate with the American people. 679 00:36:53,266 --> 00:36:54,666 Q: I guess what I'm asking is, is this 680 00:36:54,667 --> 00:36:58,767 another sign of never-ending campaign? 681 00:36:58,767 --> 00:37:02,437 MR. GIBBS: I don't -- only if you look at press conferences 682 00:37:02,433 --> 00:37:06,333 like last night as a sign that there's a never-ending political 683 00:37:06,333 --> 00:37:10,433 campaign or a Saturday radio address as if it were part of a 684 00:37:10,433 --> 00:37:12,603 never-ending political campaign. 685 00:37:12,600 --> 00:37:13,900 Q: Why would he do that? 686 00:37:13,900 --> 00:37:15,600 (Laughter.) 687 00:37:15,600 --> 00:37:17,470 MR. GIBBS: To give the -- to give you guys something to 688 00:37:17,467 --> 00:37:20,597 report at 7:06 a.m. Jon. 689 00:37:20,600 --> 00:37:29,330 Q: I just had a clarification -- I had a clarification on Roger's 690 00:37:29,333 --> 00:37:30,833 question, before I ask my question. 691 00:37:30,834 --> 00:37:34,604 Friday, with the CEOs/bankers -- I'm not clear as to what these 692 00:37:34,600 --> 00:37:36,030 folks are, but -- 693 00:37:36,033 --> 00:37:37,363 MR. GIBBS: It's bank CEOs, sorry. 694 00:37:37,367 --> 00:37:38,237 Q: Okay. 695 00:37:38,233 --> 00:37:41,063 MR. GIBBS: I think it's -- I don't have the schedule in 696 00:37:40,767 --> 00:37:43,897 I believe it is Friday afternoon here. 697 00:37:41,066 --> 00:37:42,366 front of me. 698 00:37:43,900 --> 00:37:44,770 Q: Okay. 699 00:37:44,767 --> 00:37:45,967 And I just was wondering, in terms of what the President is 700 00:37:45,967 --> 00:37:48,537 going to be promoting or alleviating fear about -- are we 701 00:37:48,533 --> 00:37:51,533 talking mostly about Geithner's plan to unfreeze credit markets 702 00:37:51,533 --> 00:37:53,333 with the budget, or both? 703 00:37:53,333 --> 00:37:54,363 MR. GIBBS: I think both. 704 00:37:54,367 --> 00:37:56,767 I think -- and as I said, I think the agenda will be 705 00:37:56,767 --> 00:37:57,467 broader. 706 00:37:57,467 --> 00:38:00,797 I think you'll -- like I said, I think you'll get into some of 707 00:38:00,800 --> 00:38:02,430 the issues that we talked about last week. 708 00:38:02,433 --> 00:38:06,633 I think he'll talk about -- they'll have a discussion about 709 00:38:06,633 --> 00:38:11,163 the administration's plan to institute new rules of the road 710 00:38:11,166 --> 00:38:16,336 in regulatory reform or in the plans that Secretary Geithner 711 00:38:16,333 --> 00:38:23,403 laid out in terms of resolution authority. 712 00:38:23,400 --> 00:38:28,800 I think -- look, I also think -- just from the point of view of 713 00:38:28,800 --> 00:38:32,700 the President getting an update from what they're seeing in the 714 00:38:32,700 --> 00:38:38,200 global credit markets and what that means for 715 00:38:38,200 --> 00:38:39,270 economic recovery. 716 00:38:39,266 --> 00:38:43,936 So I think the conversation will be broad and wide-ranging. 717 00:38:43,934 --> 00:38:48,964 Q: And the Czech Prime Minister I believe today referred to 718 00:38:48,967 --> 00:38:50,237 Obama administration's 719 00:38:50,233 --> 00:38:54,563 economic plans as "the road to hell." 720 00:38:54,567 --> 00:38:57,467 Beyond just your reaction to that, aren't you -- isn't the 721 00:38:57,467 --> 00:39:00,967 President scheduled to meet with this leader next week in Prague? 722 00:39:00,967 --> 00:39:04,267 And doesn't this complicate that meeting at all? 723 00:39:04,266 --> 00:39:08,766 MR. GIBBS: No, the President looks forward to his first 724 00:39:08,767 --> 00:39:14,237 meeting with the EU as an opportunity to discuss issues of 725 00:39:14,233 --> 00:39:19,963 transatlantic cooperation; we're going to be in Prague, and he 726 00:39:19,967 --> 00:39:23,797 looks forward to a deepening relationship 727 00:39:23,800 --> 00:39:28,630 with the Czech people. 728 00:39:28,633 --> 00:39:33,763 From what I can tell, the speaker has some domestic 729 00:39:33,767 --> 00:39:41,137 political problems that might speak more to what he was 730 00:39:41,133 --> 00:39:46,833 talking about, and I think the Czech people and the American 731 00:39:46,834 --> 00:39:49,204 people can stand assured that the President of the United 732 00:39:49,200 --> 00:39:55,930 States of America is going to do all and everything in his power 733 00:39:55,934 --> 00:40:00,534 to get our economy moving again and to restore confidence in 734 00:40:00,533 --> 00:40:03,133 that economy. John. 735 00:40:03,133 --> 00:40:05,333 Q: Set aside the budget resolution, since most of the 736 00:40:05,333 --> 00:40:08,103 tough policy questions are going to be settled down the line in 737 00:40:08,100 --> 00:40:12,070 the process anyway; it does seem to me that the most important 738 00:40:12,066 --> 00:40:14,766 part of your program that's got a real political challenge in 739 00:40:14,767 --> 00:40:18,237 terms of its prospects for passing is cap and trade. 740 00:40:18,233 --> 00:40:21,603 What is your assessment of the viability of that program 741 00:40:21,600 --> 00:40:23,000 specifically? 742 00:40:23,000 --> 00:40:25,970 And if you can't pass it, what are alternatives that might 743 00:40:25,967 --> 00:40:28,067 achieve the President's goals? 744 00:40:28,066 --> 00:40:36,296 MR. GIBBS: Well, as you know, the House Energy and Commerce 745 00:40:36,300 --> 00:40:39,400 Committee is working on cap and trade legislation. 746 00:40:39,400 --> 00:40:42,630 There are ideas that are bouncing around in the Senate 747 00:40:42,633 --> 00:40:50,633 and have for some time about -- about ways to institute a cap 748 00:40:50,633 --> 00:40:54,233 and trade program that the President and the administration 749 00:40:54,233 --> 00:41:00,433 are looking at and are encouraged by. 750 00:41:00,433 --> 00:41:04,963 I think, though, that the President believes, whether it's 751 00:41:04,967 --> 00:41:10,697 - - whether it's funding in the recovery or moving forward with 752 00:41:10,700 --> 00:41:13,300 more comprehensive energy -- legislation on energy 753 00:41:13,300 --> 00:41:18,130 independence, that there are steps outside of a cap and trade 754 00:41:18,133 --> 00:41:21,333 program that he talked about during the campaign and has 755 00:41:21,333 --> 00:41:26,133 talked about as President that can put our country on a greater 756 00:41:26,133 --> 00:41:29,933 path towards energy independence -- whether that's increased 757 00:41:29,934 --> 00:41:34,764 domestic production, whether that's something like the stop 758 00:41:34,767 --> 00:41:41,997 he did last week on battery technology, alternative fuels, 759 00:41:42,000 --> 00:41:46,470 investments in tax credits for wind and solar power generation 760 00:41:46,467 --> 00:41:49,537 -- that all of those things, be it in the budget, in the 761 00:41:49,533 --> 00:41:53,503 recovery plan, or in separate energy legislation, the 762 00:41:53,500 --> 00:41:56,700 President believes we have the opportunity to do what hasn't 763 00:41:56,700 --> 00:41:57,800 been done in quite some time. 764 00:41:57,800 --> 00:42:02,670 And I've talked about it here where -- I think you go back to, 765 00:42:02,667 --> 00:42:04,567 and it's probably even farther than that, but you go back to 766 00:42:04,567 --> 00:42:08,637 Nixon, and every President stood up in front of a joint session 767 00:42:08,633 --> 00:42:13,733 of Congress or in a big speech and declared the desire to see a 768 00:42:13,734 --> 00:42:17,034 lessening of our dependence on foreign oil. 769 00:42:17,033 --> 00:42:19,603 The President believes that we've taken important steps in 770 00:42:19,600 --> 00:42:27,070 the recovery and in this budget, as well as steps that we can 771 00:42:27,066 --> 00:42:32,066 take through the separate legislative process to put us on 772 00:42:32,066 --> 00:42:33,136 that path. 773 00:42:33,133 --> 00:42:35,903 Q: So you're not looking at cap and trade specifically as the 774 00:42:35,900 --> 00:42:37,270 test for achieving his -- 775 00:42:37,266 --> 00:42:38,136 MR. GIBBS: Well, no. 776 00:42:38,133 --> 00:42:43,503 I think there's a number of different ways that -- I think 777 00:42:43,500 --> 00:42:47,230 in many ways a cap and trade system and investments in 778 00:42:47,233 --> 00:42:50,963 alternative energy and alternative fuels work very much 779 00:42:50,967 --> 00:42:56,267 hand in hand. 780 00:42:56,266 --> 00:42:57,396 And I think the President sees that as an important step 781 00:42:57,400 --> 00:43:01,800 forward in how we can reduce our dependence on foreign oil. 782 00:43:01,800 --> 00:43:07,070 This is a conversation that is largely joined sometime in the 783 00:43:07,066 --> 00:43:11,596 middle or late summer when gas prices spike. 784 00:43:11,600 --> 00:43:16,570 And hopefully, the President believes, we can take steps now 785 00:43:16,567 --> 00:43:20,667 to avoid some of those price spikes in the future, and not be 786 00:43:20,667 --> 00:43:24,067 at the whim of a foreign country for our energy. 787 00:43:24,066 --> 00:43:24,696 Q: Thank you. 788 00:43:24,700 --> 00:43:25,400 MR. GIBBS: April. 789 00:43:25,400 --> 00:43:28,500 Q: Robert, I want to piggyback off of Ann Compton's question 790 00:43:28,500 --> 00:43:31,100 last night on race. 791 00:43:31,100 --> 00:43:34,470 Today, the National Urban League came out with the State of Black 792 00:43:34,467 --> 00:43:37,837 America 2009: A Message to the President. 793 00:43:37,834 --> 00:43:41,264 Also, this month marks the one-year anniversary of 794 00:43:41,266 --> 00:43:45,366 President Obama's famous race speech in Philadelphia. 795 00:43:45,367 --> 00:43:48,837 Now, going back to the State of Black America, it says there's a 796 00:43:48,834 --> 00:43:51,504 tale of two black Americas. 797 00:43:51,500 --> 00:43:55,100 One is for pride for the President, Barack Obama. 798 00:43:55,100 --> 00:43:58,830 And then the other one, it goes on to say our prisons are 799 00:43:58,834 --> 00:44:01,734 disproportionately populated by African American males, the 800 00:44:01,734 --> 00:44:04,434 economic crisis is hitting our communities especially hard, 801 00:44:04,433 --> 00:44:07,803 leaving huge numbers of African Americans without homes, jobs, 802 00:44:07,800 --> 00:44:08,970 or life savings. 803 00:44:08,967 --> 00:44:12,037 We see an unemployment rate that's double that of whites, 804 00:44:12,033 --> 00:44:14,163 and wide academic achievement gaps. 805 00:44:14,166 --> 00:44:15,466 What say you? 806 00:44:15,467 --> 00:44:18,637 And how is this administration going to deal with the issues on 807 00:44:18,633 --> 00:44:23,503 a socioeconomic level, as well as the issue of race, 808 00:44:23,500 --> 00:44:25,470 compassion, heart issue? 809 00:44:25,467 --> 00:44:30,567 MR. GIBBS: Well, as I talked about earlier, the best way to 810 00:44:30,567 --> 00:44:36,837 deal with a number of the statistics that you talk about; 811 00:44:36,834 --> 00:44:42,904 a rising achievement gap, rising unemployment, and a disparity -- 812 00:44:42,900 --> 00:44:47,270 in that is to make important investments in things like 813 00:44:47,266 --> 00:44:50,596 health care and education, and to work toward an 814 00:44:50,600 --> 00:44:51,970 economic recovery. 815 00:44:51,967 --> 00:44:56,797 I think the President believes we took a step forward in that 816 00:44:56,800 --> 00:45:01,700 in his plan that he believes will save or create 3.5 million 817 00:45:01,700 --> 00:45:07,830 jobs; that will make critical investments, down payments in 818 00:45:07,834 --> 00:45:13,734 education reform; open up the doors of opportunity not just 819 00:45:13,734 --> 00:45:18,034 for young people and early childhood education, but also 820 00:45:18,033 --> 00:45:21,533 through tax credits to make college more affordable, or in 821 00:45:21,533 --> 00:45:27,463 this budget, that will raise the level of Pell Grants that are 822 00:45:27,467 --> 00:45:30,997 available for students. 823 00:45:31,000 --> 00:45:34,970 I think the President believes that we've got a long way to go 824 00:45:34,967 --> 00:45:40,467 in this country to providing more hope and opportunity, and 825 00:45:40,467 --> 00:45:42,667 to get our economy moving again is one of the 826 00:45:42,667 --> 00:45:44,397 best ways to begin that. 827 00:45:44,400 --> 00:45:46,600 Q: Is some of this a heart issue, an issue of compassion? 828 00:45:46,600 --> 00:45:49,100 I mean, you know, there are disproportionate numbers across 829 00:45:49,100 --> 00:45:52,430 the board, according to this book from the Urban League. 830 00:45:52,433 --> 00:45:56,103 Is some of this a heart issue versus just policy? 831 00:45:56,100 --> 00:45:57,430 MR. GIBBS: Well, absolutely. 832 00:45:57,433 --> 00:46:01,203 I mean, I think, first of all, you have to -- and I think the 833 00:46:01,200 --> 00:46:04,070 President is a believer in this -- and that is you have to use 834 00:46:04,066 --> 00:46:10,266 your heart in your policy; that the President believes strongly 835 00:46:10,266 --> 00:46:14,866 in the investments that he's asked the Congress to join him 836 00:46:14,867 --> 00:46:17,437 in, in this budget. 837 00:46:17,433 --> 00:46:22,363 That's why priority was put on a big expansion in education 838 00:46:22,367 --> 00:46:27,737 funding in the Recovery Plan, again, to ensure that kids were 839 00:46:27,734 --> 00:46:31,934 getting a healthy head start. 840 00:46:31,934 --> 00:46:35,134 We all know the statistics about early childhood education and 841 00:46:35,133 --> 00:46:38,533 the difference that it makes even before kids get to 842 00:46:38,533 --> 00:46:39,903 kindergarten. 843 00:46:39,900 --> 00:46:44,800 As the President talked about a few weeks ago, investing 844 00:46:44,800 --> 00:46:48,730 in our teachers. 845 00:46:48,734 --> 00:46:54,334 The single most important aspect of any child's education is who 846 00:46:54,333 --> 00:46:59,733 is standing in front of their classroom each day, instructing 847 00:46:59,734 --> 00:47:03,334 them and helping them learn -- whether at a young age, the 848 00:47:03,333 --> 00:47:09,103 basics, or math and science as they get older and into high 849 00:47:09,100 --> 00:47:15,530 school, and hopefully, providing more and more young people with 850 00:47:15,533 --> 00:47:18,833 the grades and the opportunity to seek higher education. 851 00:47:18,834 --> 00:47:25,864 And I think the President challenged all of America to, in 852 00:47:25,867 --> 00:47:29,467 his speech to Congress, to seek one year of post-high school 853 00:47:29,467 --> 00:47:33,597 education, whether it's vocational training or college 854 00:47:33,600 --> 00:47:41,300 education, to create a more educated workforce that can meet 855 00:47:41,300 --> 00:47:43,570 the growing demand for the jobs of the future. 856 00:47:43,567 --> 00:47:44,797 George -- I'll take one more. 857 00:47:44,800 --> 00:47:48,430 Q: On the upcoming summit, first a logistical question. 858 00:47:48,433 --> 00:47:49,663 What are the briefing plans? 859 00:47:49,667 --> 00:47:54,297 Will there be a briefing this week? 860 00:47:54,300 --> 00:47:56,170 MR. GIBBS: We talked about -- I don't know whether this is going 861 00:47:56,166 --> 00:48:01,796 to be Friday or early next week or not, but we will -- we will 862 00:48:01,800 --> 00:48:08,270 do a logistical briefing to run you through some of what I 863 00:48:08,266 --> 00:48:13,466 talked about here today and some of the upcoming events that the 864 00:48:13,467 --> 00:48:17,297 President will have on his schedule over the course of the 865 00:48:17,300 --> 00:48:19,300 many days that we're overseas. 866 00:48:19,300 --> 00:48:22,470 Q: And a quick follow on your answer to Major and Caren, isn't 867 00:48:22,467 --> 00:48:25,967 he on the defensive going into this summit with all the things 868 00:48:25,967 --> 00:48:30,267 that were talked about there -- on the dollar, the Czech -- 869 00:48:30,266 --> 00:48:33,296 MR. GIBBS: No, I think the President is -- as he said last 870 00:48:33,300 --> 00:48:37,600 night, I think the President looks forward to working in 871 00:48:37,600 --> 00:48:41,900 concert with the G20 to get our economy moving again. 872 00:48:41,900 --> 00:48:45,800 And I think what you'll see come out of this summit will be an 873 00:48:45,800 --> 00:48:54,130 agreement on further evaluating what efforts need to be taken to 874 00:48:54,133 --> 00:48:56,333 meet the drop in global demand. 875 00:48:56,333 --> 00:49:01,563 I think you'll see the President talk about -- and there will be 876 00:49:01,567 --> 00:49:04,937 some broad agreement on a changing of the rules of the 877 00:49:04,934 --> 00:49:07,564 road and financial regulation. 878 00:49:07,567 --> 00:49:11,737 And lastly, I think you've already seen agreement among 879 00:49:11,734 --> 00:49:15,334 many of the nations that are going to be involved in the G20 880 00:49:15,333 --> 00:49:23,963 to look for ways at stimulating export growth that we've seen 881 00:49:23,967 --> 00:49:27,667 pull back considerably in this global recession and how that 882 00:49:27,667 --> 00:49:33,697 has affected and impacted developing nations most of all 883 00:49:33,700 --> 00:49:37,270 -- what that means for each individual countries are exports 884 00:49:37,266 --> 00:49:38,766 and real jobs. 885 00:49:38,767 --> 00:49:42,697 And so I think the President looks forward to that. 886 00:49:42,700 --> 00:49:46,530 I think the President believes that what will come out of this 887 00:49:46,533 --> 00:49:49,933 will be broad agreement among the G20 on the steps that we 888 00:49:49,934 --> 00:49:52,064 have to take to get our economy moving again. 889 00:49:52,066 --> 00:49:52,866 Thanks, guys.