Pres. Obama: Top priority must be jobs, growth
President addresses looming fiscal cliff crisis
- Duration 8:26
- Date Nov 9, 2012
President addresses looming fiscal cliff crisis
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-- -- Thank.
You very much room.
Or good afternoon everybody.
Now that those of us on the campaign trail have had a chance to get a little -- It's time to get back to work and there is plenty of work to do.
As I said on Tuesday night the American people voted for action not politics as usual.
You elected us to focus on your job's not hours.
And in that spirit I've invited leaders of both parties to the White House next week.
So we can start to build consensus around the challenges that we can only solve together.
And I also intend to bring in business and labor and civic leaders from all across the country -- -- Washington.
To get their ideas and input as well.
At a time when our economy still recovering from the Great Recession.
Are top priority has to be jobs and world.
That's the focus of the plan.
I talked about -- campaign.
But the plan toward small businesses and manufacturers the great jobs here not overseas.
The plan to give people the chance to get the education and training that businesses are looking for right now.
It's a plan to make sure this comfort.
Is a global leader in research and technology.
And clean energy what you'll attract new companies and high wage jobs to America.
-- a plan to put folks back to work including our veterans.
Rebuilding our roads our bridges and other infrastructure.
And it's a plan to reduce our deficit in a balanced.
And responsible way.
Our work is made that much more urgent because at the end of this year.
We face a series of deadlines that require us to make major decisions about how to pay our deficit -- Decisions that we'll have a huge impact on the economy and the middle class both now and in the future.
Last year our work -- Democrats and Republicans to cut a trillion dollars worth of spending we just couldn't afford.
I intend to work would both parties to do more.
And that includes making reforms that will bring down the cost of health care so we can strengthen programs like Medicaid and Medicare for the long haul.
But as I've said before.
We can't just cut our way to prosperity.
If we're serious about reducing the depths.
We have to combined spending cuts would -- up.
And that means asking the wealthiest Americans to pay a little more in taxes.
That's how we get a that's how we did it in the 1990s when Bill Clinton was president.
That's how we can reduce the deficit while still making the investments we need to build a strong middle class and strong -- That's the only way we can still afford to train our workers or help our -- pay for college.
Or make sure that good jobs and clean energy your high tech manufacturing.
Don't end up in countries like China.
Already -- put forward a detailed plan that allows us to make these investments.
While reducing our deficit -- four trillion dollars over the next decade.
A wanna be clear I'm not wedded to every detail of my plan.
I'm open to compromise.
I'm open to new ideas.
I'm committed to solving our fiscal challenges.
I refuse to accept any approach that isn't balance.
I'm not gonna ask students and seniors and middle class families to paid -- -- entire deficit.
While people like me making over 250000 dollars.
Aren't asked to pay a dime more in taxes.
-- -- -- Want to point out this was a central question during the election.
It was debated over and over again -- on Tuesday night we found out that the majority of Americans agree -- my approach.
And that includes Democrats -- -- -- and a lot of Republicans across the country as well as.
And budget experts that's -- to reduce the deficit -- -- balanced approach.
So our job now is to get a majority in congress to reflect the will of the American people.
And I believe we can get them Jordan.
I was encouraged to hear speaker Boehner agree that tax revenue has to be part of this equation so I look forward to hearing -- ideas when I see him next week.
-- make one final point that every American needs to hear.
Right now if congress fails to come to an agreement on an overall deficit reduction package by the end of the year.
Everybody's taxes will automatically go up on January 1.
Including the 98% of Americans who make less than 250000.
Dollars a year.
That makes no sense.
Would be bad for the economy.
And would hit families that are already struggle to make ends meet.
Fortunately we shouldn't need long negotiations or drama to solve that part of the problem.
While there may be disagreement in congress over whether or not to raise taxes on folks making over 250000 -- a year.
Not Republicans not Democrats want Texas to go up for folks making under 250000 dollars a year.
So let's not wait.
Even as we're negotiating a broader deficit reduction package.
Let's expand the middle class tax cuts right now.
Let's do that right now.
That one step.
That one step would give millions of families 98%.
Of Americans and 97%.
Of small businesses.
The certain -- that they need.
Going into the new year.
It would immediately take a huge chunk of the economic uncertainty.
-- the Tate.
And that will lead to new jobs and faster -- business won't know that consumers.
A big tax increase don't know that.
Most small businesses won't see -- tax increase and so a lot of the I'm certainly -- -- about that will be removed.
In fact the senate has already passed.
A bill doing exactly that's all we need is action from the house.
I've got them ready to sign the bill right away it.
The American people understand -- we're gonna have those differences and disagreements in the months to come they get.
But on Tuesday they say it loud and clear that they won't tolerate -- -- there won't tolerate politicians who view compromise as a dirty word.
Now when so many Americans are still a lot of work.
Now when so many families and small business owners are still struggling to pay the bills.
The American people are looking for his cooperation.
There looking for consensus.
There -- looking for common cents.
Most of all they want action.
And to deliver for them in my second -- and I expect to find willing partners in both parties to make that happen.
So let's get to work thank you very much of --