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Transcript of Photo Opportunity with Business Leaders of 'The Campaign to Fix the Debt'

Washington, D.C. – Democratic Leader Nancy Pelosi held a photo opportunity today at the top of a meeting between House Democratic Leaders and business leaders from “The Campaign to Fix the Debt.”  Below is a transcript of the photo opportunity:

Leader Pelosi.  Good morning.  Thank you all for being here.  This is a very important meeting to us to hear the views of “The Campaign to Fix the Debt” coalition – is that the term of art?  Fix the Debt coalition, because that’s what we’re all here to do; to fix the debt.  

Democrats in the House believe that the best way to fix the debt is to create jobs.  So we want to hear the views of the Fix the Debt coalition about job creation, injecting demand into the economy to create jobs.  We know that that has to be the centerpiece of agreement – whether it’s infrastructure, education, or job creation.  We know that the economy benefits when we have more customers.  We want to create more customers for American business.  How do we make decisions about money?  And how do we make decisions about increasing revenue?  That’s the conversation we’re all engaged with.

I think it’s important to know that we have already agreed to over a trillion and a half dollars in cuts in both the Budget Control Act and other acts in this session of Congress.  And so now let’s see what the revenue piece would be to that.  It is really important for us to avoid going over the cliff, but it’s not the end of our work.  After that we need to address more fully – the issue of tax simplification and fairness and how we can close loopholes, lower rates, whatever that is, it’s a fuller and longer discussion.  As well as addressing how we can strengthen Medicare and Social Security and the rest.

So, we are ready – I think the agreement could be reached, the model for it was last July, or last summer, 2011, with some questions to who walked away, the fact is we can all be there and start with that and go from there to reach an agreement.

I thank you for your interest.   We’re very eager to hear the views of the Fix the Debt participants who are here with us now, so, good morning and thank you.

Q:  [Inaudible Question About Revenues and Cuts].    

Leader Pelosi.  We’ll be talking about that later.  

[Various Inaudible Questions Shouted At Once]

Q:  Will there be a deal?  Do you sense that there’ll be a deal?  

Leader Pelosi.  There has to be a deal, there has to be an agreement so let us understand that it has to happen and to engineer back from say, the middle of December till now.  I believe everybody knows what the possibilities are so let’s just do it – but bye.

Goodbye again.  Thank you for coming.  You’ll be the first to know.