President Obama on the debt negotiations

Today, the president decided that there is no need to campaign on the trail, when he can do so from the White House, and bring the press to him.  He held a press conference to discuss the national debt and deficit.

The president started by discussing the problems of middle class families, and acknowledging that the problem won’t get fixed overnight.  He stated that his administration is reviewing regulations that may be an issue, and that getting credit to small business owners is important.

He quickly moved into a discussion of Congress, and how they can/must help.  He then made a laundry list of bills that Congress could send him to create jobs (like putting construction workers to work on roads in the US) or they could send trade agreements to him with other nations.  Stunningly, he said Congress could send him an extension of tax credits (which he also took credit for, highlighting that he signed them back in September).

He then went to the heart of his conversation, the nation’s deficit.  While he applauds the finding of $1 trillion in debt to cut, he then states that more is needed, and that waste must be eliminated.  He specifically stated that the Defense Department must be trimmed, but “our promise to seniors (Medicare) must be kept.”

On the tax front, Obama said he has spent the past two years cutting taxes, but he would like to remove the tax breaks for millionaires and billionaires, and corporate jet owners (as well as oil and gas companies.) He then equated the rich not paying more to children not getting college educations via scholarships, and that innovation will be “sacrificed.”

So far, he has mentioned “corporate jet owners” three times.  He also thinks that the majority of Americans agree with his “Tax The Rich” thesis.

The president said that no one wants to see the country default on its debt, and that he and the vice-president will continue to meet with leaders in Congress.

He then went to questions from the press.

First thoughts?  This is a campaign speech, focused on inciting his base with the “Tax The Rich” mantra and insinuating that it is Republicans causing the financial problems in America.  What are your thoughts?