Barack Obama

We must scour this budget line by line, eliminating what we don't need or what doesn't work.

The Congressional Budget Office announced that the deficit we are inheriting from this budget year will be $1.2 trillion. We know that our recovery and reinvestment plan will necessarily add more.

We have an economic situation that is dire.

All the gentlemen here understand both the pressures and possibilities of this office. And for me to have the opportunity to get advice, good counsel, and fellowship with these individuals is extraordinary.

We can rebuild confidence and trust in our economy and our markets.

And in the short-term, we will actually see potentially additions to the deficit.

Meeting the challenges of rebuilding our economy and bringing a new sense of responsibility to Washington isn't just about rearranging numbers on a balance sheet – it's about renewing people's trust in their leadership.

Thank you, Mr. President, for hosting us.

I think it's important for us to have transparency in how the money is spent.

Our problem is not just a deficit of dollars, it's a deficit of accountability, and a deficit of trust.

We must scour this budget.

We can't have two administrations running foreign policy at the same time.

I am doing everything that we have to do to make sure that the day that I take office, we are prepared to engage immediately.

And I describe earmarks as the process by which individual members insert pet projects without review. So, what I'm saying is, we're not having earmarks in the recovery package, period.

The loss of civilian life in Gaza and in Israel is a source of deep concern for me. And, after January 20, I'm going to have plenty to say about the issue.

I have the utmost respect for Leon Panetta. I think that he's one of the finest public servants that we've had. He brings extraordinary management skills, great political savvy, an impeccable record of integrity.

I describe earmarks as the process by which individual members insert pet projects without review. So what I'm saying is, we're not having earmarks in the recovery package, period.

We are going to engage effectively and consistently in trying to resolve the conflicts that exist in the Middle East. That's something that I'm committed to.

The loss of civilian life in Gaza and Israel is a source of deep concern for me, and after January 20th I'm going to have plenty to say about the issue.

When the American people spoke last November, they were demanding change.

We're going to have to stop talking about budget reform.

We are going to bring a long-overdue sense of responsibility and accountability to Washington.

We will ban all earmarks in the recovery package.

I'm being fully briefed and monitoring the situation on a day-to-day basis.

That's something that I'm committed to.