Bill Clinton: “I don't know what the bridge will be. Let me just say this, I think it's very important that we move this promptly as…”

“I don't know what the bridge will be. Let me just say this, I think it's very important that we move this promptly as possible to pass the economic plan. After the House acted, long-term interest rates dropped again. We now have a 7-year high in housing sales, unemployment below 7 percent--it's the first time in a year and a half-- 755,000 new jobs since January. And that's because there's a serious attempt to reduce this deficit through a combination of cuts and tax increases, almost all of which come on wealthier individuals. So I think we just need to move forward. There will be some changes in the Senate, and that is fine. Then we just need to hold to the principles: there ought to be $500 billion in deficit reduction; it ought to be in a trust fund so that neither the taxes nor the spending cuts can be diverted; and the tax burden ought to be progressive, falling largely on the wealthiest Americans; and we ought to keep the incentives for private sector growth in there. We're moving from welfare to work for investing in the depressed areas of the country for starting small businesses. Those are the principles that I have. And the energy tax ought to encourage conservation and the use of cleaner fuels. Those are the things that I think ought to be done. We'll just see what happens.”