Wednesday, June 29, 2011

Amid budget impasse, Obama holds news conference


'Call me naive, but my expectation is that leaders are going to lead'



President Barack Obama held a news conference late Wednesday morning, his first formal question-and-answer session since high-stakes debt and budget negotiations began.


Obama opened with comments about spurring the economy and job growth, touching on the deficit talks that have occupied Vice President Joe Biden and congressional leaders over the past several weeks.
"There are steps we can take right now that will help businesses create new jobs here in America," said Obama.

"We're going to need to look at the whole budget," said the president. "And eliminate waste wherever we find it."

Obama continued, "I spent the last two years cutting taxes for ordinary Americans ... it would be nice if we could keep every tax break there is, but we have to make some tough choices to cut our deficit."

"If you are a wealthy CEO ... your taxes are lower than they've ever been," said Obama. He said that if tax cuts for that demographic were changed, "You can still afford to ride on your private jet, you're just going to have to pay a little more."

"The good news is, because of the work that's been done, I think we can actually bridge our differences," said Obama. He said that the White House will continue discussions with lawmakers for "as long as it takes."
He added, "Call me naive, but my expectation is that leaders are going to lead."

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