STATES, HELP BUSINESSES INVEST
IN THEIR OWN FUTURE.
>> MARIA: I UNDERSTAND.
BUT LET'S NOT FORGET THAT PEOPLE
ARE UPSET ABOUT THE SPENDING.
LET'S TALK ABOUT THE BUDGE
BATTLE THAT'S CURRENTLY
HAPPENING.
EARLIER THIS MONTH LAWMAKERS
PASSED THE STOP GAP BILL TO KEEP
THE LIGHTS ON THROUGH
MARCH 23rd.
CONGRESS IS HAMMERING OUT A DEAL
ON FULL APPROPRIATIONS FOR THE
REMAINDER OF THE FISCAL YEAR.
IS YOUR DEPARTMENT EXPECTING A
SHUTDOWN SHOWDOWN NEXT MONTH?
>> I DON'T EXPECT A SHUTDOWN BUT
WHAT WE WILL SEE, I THINK, IS
SPENDING THAT GOES -- THAT
SPRAWLS TOO BROADLY ACROSS THE
U.S. GOVERNMENT.
SO I THINK THERE'S A HUGE AMOUNT
OF WORK THAT NEEDS TO BE DONE
OVER THE NEXT ONE, TWO, THREE,
SIX YEARS IN ORDER TO TRY TO GET
MORE BALANCE IN THE WAY THAT THE
U.S. BUDGET OPERATES.
RIGHT NOW THERE'S HUGE NUMBER OF
PROGRAMS THAT SIMPLY AREN'T
NEEDED AND THERE HAS TO BE A WAY
TO ALLOW THEM TO REACH A DEMISE,
TO MOVE ON, TO BETTER PROGRAMS
INTO THE FUTURE.
BUT THE BUDGET I THINK AS THE
HIGHEST PRIORITY HAD TO CREATE
SECURITY, NATIONAL SECURITY FOR
THE ECONOMY AND IT DOES THAT.
>> MARIA: IT'S A GOOD POINT.
I KNOW YOU'RE SPEAKING LATER AT
THE CAMP FORUM ON GLOBAL
ECONOMIC GROWTH.
WHAT ARE YOU EXPECTING FROM THAT
EVENT?
WHAT ARE GOING TO BE THE MAIN
POINTS THAT YOU WANT TO MAKE IN
TERMS OF WHERE THAT GROWTH COMES
FROM, DAVID?
>> RECALL THAT JACK KEMP WAS A
GREAT LEADER IN TRYING TO HAVE
INCLUSIVE GROWTH, THAT MEANS
EVERYONE, THAT MEANS THE MEDIAN
INCOME GOING UP, THAT MEANS
GROWTH FOR EVERYONE AND JOBS FOR
AS MANY PEOPLE AS IS POSSIBLE.
SO I'LL BE TALKING ABOUT HOW
THAT CAN BE DONE ON AN
INTERNATIONAL FRONT.
SOME OF OUR POLICIES -- WE HAVE
A LOT OF CHANGE IN DIRECTION
THAT WILL MAKE OUR NATION
STRONGER.
ONE OF THOSE IS REDIRECTING OUR
POLICY TOWARD CHINA WHERE WE HAD
FALLEN INTO A PATTERN OF
WEAKNESS AS A NATION.
ANOTHER IS IN THE WESTERN
HEMISPHERE.
WE'VE LAID OUT A SET OF 10
INITIATIVES THAT WILL MAKE OUR
OWN HEMISPHERE STRONGER AND MORE
GROWTH-ORIENTED.
THE TRADE RENEGOTIATIONS OF
COURSE, I'LL TALK SOME ABOUT WE
NEED TO MAKE THEM WORK FOR
AMERICAN WORKERS.
AND SO THOSE ARE ALL INITIATIVES
UNDER WAY THAT THE TREASURY
DEPARTMENT IS INVOLVED IN AND
LEADING ON.
>> MARIA: WHAT ARE YOUR
EXPECTATIONS FOR DEBT AND
DEFICITS.
HOW WORRIED ARE YOU ABOUT THE
TRILLION DOLLAR DEFICITS THAT
ARE FRONT AND CENTER FOR 10
YEARS PLUS OUT?
>> IT'S A CHALLENGING
ENVIRONMENT.
I THINK THE DEBT IS TOO HIGH NOW
AND IT'S GOING HIGHER.
A LOT OF THAT COMES FROM THE
WEAKNESS THAT WE HAD IN PREVIOUS
YEARS.
AND SO THE TRAJECTORY FOR THE
U.S. ECONOMY HAD FALLEN LOWER
AND LOWER AND THAT BECAME OF
COURSE AN ISSUE IN THE CAMPAIGN,
THAT THERE NEEDED TO BE A CHANGE
TO MAKE IT BEGIN TO RECOVER.
ONCE THAT HAPPENS, THAT'S GOING
TO HELP SLOW THE GROWTH IN THE
DEBT.
BUT FOR NOW, WE DON'T HAVE A
VERY GOOD BUDGET PROCESS TO DO
THAT.
WE HAVE TO GO WITH THE PRIORITY
OF NATIONAL SECURITY, PEACE
THROUGH STRENGTH, AND THAT'S
GOING TO BE COSTLY.
AND SO I'M TROUBLED BY THE
DEFICIT.
I'M TROUBLED BY THE NATIONAL
DEBT.
AND I THINK WE NEED A THREE-YEAR
PROGRAM TO GRAPPLE WITH IT AND
STARTING THIS MONTH, NEXT MONTH,
AND ON FORWARD.
>> MARIA: IN THE MEANTIME, WE
SHOULD EXPECT GROWTH, THAT
GROWTH GENERATED AS A RESULT OF
THE POLICIES OUT OF THIS
ADMINISTRATION TO CUT INTO SOME
OF THE DEFICIT NUMBERS?
ARE YOU COUNTING ON GROWTH
TAKING YOU OUT OF THIS OR AT
SOME POINT ARE WE GOING TO SEE A
PROGRAM TO REIN IN THE
ENTITLEMENTS WHICH AS YOU KNOW
IS WHERE THE SPENDING IS.
>> AS THE PRESIDENT, YOU HAVE TO
GRAPPLE WITH THE BUDGET AS IT
IS, THAT MEANS MAKING HARD
CHOICES EVERY DAY IN THE
APPROPRIATIONS PROCESS, IN THE
AUTHORIZATION PROCESS AND
CONGRESS NEEDS TO TRY HARDER ON
THAT.
YOU RAN THE NANCY PELOSI CLIP
WHERE SHE'S TALKING ABOUT THE
NEED FOR -- TO TAKE MORE MONEY
FROM THE PEOPLE SO THAT THE
GOVERNMENT CAN INVEST IT FOR
THEM.
THAT'S NOT THE WAY FORWARD.
SO WE HAVE TO FIND A WAY, I
THINK STARTING WITH
DISCRETIONARY SPENDING, TO SHOW
THERE'S RESPONSIBILITY IN
WASHINGTON.
I DON'T THINK WE'RE THERE YET.
WHAT WE'RE DOING --
>> MARIA: YOU'RE DEFINITELY NOT
THERE YET, DAVID.
WE KNOW WHAT HAPPENED WITH THE
BUDGET SPENDING BILL JUST TWO
WEEKS AGO.
YOU'VE GOT ALL THIS SPENDING,
$300 BILLION.
THAT'S THE POINT OF THE
CONVERSATION.
>> RIGHT.
WHERE ELSE DO YOU FIND IN THE
WORLD SOME INSTITUTION THAT CAN
SPEND $4.5 TRILLION AND LOOK FOR
MORE?
THAT'S GOT TO BE TURNED AROUND.
SO I AGREE WITH YOUR POINT AND
YOUR THRUST.
THERE NEEDS TO BE A LOT MORE
WORK DONE ON THAT.
>> MARIA: WE'LL BE WATCHING YOUR