George H.W. Bush: “Well, let's discuss it. What do you think we ought to do? What level do we have of defense spending? We're testifying…”

“Well, let's discuss it. What do you think we ought to do? What level do we have of defense spending? We're testifying every single day for the details of this program. But if you've met and you want to say something in front of the press, I ask you to be specific with me. I think that's the way we ought to approach it. Governor Romer. Well, the specific that I'm really concerned about, about the budget, and I'll be detailed about it, is there's a $12 billion asterisk that I think hangs over the head of Governors because it may be State programs that are cut. There is accounting, accrual accounting of future receipts that concern me. There are implications of tax revenue loss in the IRA treatment in years ahead that may produce additional deficit. And in the course of the 2 days that I have been in town, I find that there is a considerable point of view, at least among some Democratic Governors, as to what that's going to mean in terms of how we settle on the economic recovery package. Now, Mr. President, I'm frankly trying not to make this any more partisan. I'm just saying that I want to have an opportunity that we can come to the table, we as Governors on both parties, have this discussion in detail so that whatever this economic package is, it's going to fit with the States when we get it passed.”