As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.
In the '70s, everybody thought drugs were just good times. People didn't really know about drug addiction, or that such a thing existed. When I grew up in the '70s I thought you had to take drugs. It was almost like I didn't think you had a choice.
You know, when I made a series of overtures to the Republicans, going over to meet with both Republican caucuses, you know, putting three Republicans in my cabinet -- something that is unprecedented -- making sure that they were invited here to the White House to talk about the economic recovery plan, all those were not designed simply to get some short-term votes. They were designed to try to build up some trust over time. And I think that, as I continue to make these overtures, over time, hopefully that will be reciprocated.
And do not suppose that this is the end. This is only the beginning of the reckoning. This is only the first sip, the first foretaste of a bitter cup which will be proffered to us year by year unless by a supreme recovery of moral health and martial vigour, we arise again and take our stand for freedom as in the olden time.
It's my job as President and Congress’s job to maker sure that there’s some rules of the road that people are going to abide by and that we’ve got transparency and accountability that this stuff is being posted and one of the things that we are going to do is put together an independent board on the recovery package…
If we can’t puncture some of the mythology around austerity, politics or tax cuts or the mythology that’s been built up around the Reagan revolution, where somehow people genuinely think that he slashed government and slashed the deficit and that the recovery was because of all these massive tax cuts, as opposed to a shift in interest-rate policy - if we can’t describe that effectively, then we’re doomed to keep on making more and more mistakes.
I think what is true is that there's been an underlying division in the United States. Some of it has to do with the fact that economic growth and recovery tends to be stronger in the cities and in urban areas. In some rural areas, particularly those that were reliant on manufacturing, there has been weaker growth, stagnation, people feeling as if their children won't do as well as they will.
I will continue to urge creditors to take the steps needed to put Greece on a path towards a durable economic recovery because it's in all of our interests that Greece succeeds.