"When President Obama was sworn in he inherited a $1.3 trillion deficit."
"I want to accept the premise, absolutely accept the premise that, in order to get the deficit and debt down, we have got to reduce spending."
"I do think it is risky to do anything that could weaken the economy during this very fragile time."
"the Chairman of the Federal Reserve, Ben Bernanke, testified just very recently that slashing the budget that way would, quote, Translate into a couple hundred thousand jobs, so it is not trivial, unq..."
"Enacting measures that would slow down job growth would not only impose additional and unnecessary economic pain on American families, it will harm the goal of deficit reduction."
"That is why the House Republican plan to make additional, deep, and immediate cuts in various investments in order to hit an arbitrary number is such a mistake."
"a failure of the United States to meet its debt obligations and to make sure that we protect the full faith and credit of the United States would be, quote, ``catastrophic.''"
"I hope that we won't play politics with the full faith and credit of the United States."
"The President's balanced and responsible approach stands in stark contrast to the Republican majority's reckless plan for this year."
"House Republicans have also taken a reckless approach to the debate on the debt ceiling."
"President Obama has laid out a budget proposal that is tough but responsible."