GOP Leaders React to Obama's Speech

BOEHNER: Well, let me just add to the last point that Senator McConnell made. And that is the issue of regular order.

We paid a heavy price for how the financial rescue package was dealt with back in late September because it was negotiated at a leadership level. It was -- it was run through the House and Senate rather quickly.

And as a result, the kind of information that Americans would get about the severity of the problem, the potential options for helping fix the problem, all of that discussion for the American people was lost.

And the president-elect the other day agreed with me that taking this sort of regular order was necessary so that Americans understand more clearly the challenge that we face, both to the economic crisis that we have and to the deficit size that we have, as we begin to craft this.

And so it -- it's very important that we go something like regular order so that -- so that more Americans have a better grasp and understanding of what it is we're doing.

QUESTION: Just a follow up on...

QUESTION: (OFF-MIKE) do you feel that (OFF-MIKE) President-elect Obama laid out (OFF-MIKE) incredible urgency to get something done (OFF-MIKE) trillion is too much, but what -- what is the right size of the package?

BOEHNER: I do believe that -- that our economy is facing a crisis. And I do believe that American families and small businesses are -- are under an awful lot of stress and anxiety. And I do believe that Washington has to act, but we have to act in a responsible way.

What the ultimate size of this package is, I don't know that any of us can determine this, except, given the deficit issues that we're facing, we've got to address the economic crisis, but we also have to address just how much debt we're going to build up. And we can't -- we can't do one without the other.

And so as we're -- we're dealing with the help for our economy, we also need to begin to -- to put down markers or lay out a path for how we're going to control spending so that the deficit doesn't go out of control.

MCCONNELL: Let me -- let me just add, I don't often quote the speaker, but the speaker said, with reference to this issue last year, that these kinds of packages ought to be timely, targeted and temporary. So I think what Leader Boehner and I are saying here in part is, let's don't use the obvious need to pass a stimulus package as a way to make the problem worse.

A good example of how you could make the problem worse would be to -- to take this opportunity and turn it into a -- a chance to take this -- this proposal and turn it into an opportunity to make long- term, systemic spending changes that exacerbate the problem.

I mean, we started off here talking about this year's deficit, $1.2 trillion. The last thing we ought to do in this package is make long-term, systemic changes that make the spending problem even worse.

So that's why, yes, we want to act quickly. And I think a month or so is probably a reasonable definition of quick around here. But we -- we don't want to make big mistakes that exacerbate the -- the problem we already have, which is a dramatic, eye-popping deficit.

(CROSSTALK)

QUESTION: ... Republicans are actually being listened to or are they being marginalized (OFF-MIKE)

MCCONNELL: No, I think we are being listened to. I'm -- I'm pleased with what the new president's had to say so far. I don't have any complaints about the communication at this stage.

But we'll see what the -- what the final package the administration recommends looks like. That'll be an indication of whether we're being listened to. There's some evidence that we are. And then we'll see what it is at the end of the process.

I would remind you all -- I've said this repeatedly, I'm going to say it again today -- Republican senators represent 50 percent of the American population. We expect to be a part of the process, and we will be a part of the process.

I think the new president respects that request of ours and thinks it's reasonable.

QUESTION: Senator McConnell (OFF-MIKE) what impact do you think that will have on Senator Obama or President-elect Obama's health care proposals? Is there any possibility in this for major health care reform that might include something like universal health coverage?

MCCONNELL: Well, look, we have to take first things first. And I'm sure that he shares the disappointment we all have that we're having to deal with this issue right now.

I mean, we all know that the unfunded liabilities that we have for future generations of Americans in Social Security and Medicare are enormous. And the kind of economic situation that we face right now does, it strikes me, inhibit our ability to deal with some of these long-term problems that we have, not to mention the deficit, and all of this is related to the long-term deficit problem we have.

QUESTION: Senator McConnell (OFF-MIKE) matters worse (OFF-MIKE) could you elaborate (OFF-MIKE)

MCCONNELL: No, because we haven't seen the package yet. But -- but if the package ends up not being timely, temporary and targeted, but rather being used in a different way, I think that should, you know, raise alarm bells for a lot of people that this is becoming something other than a stimulus package and more related to long-term spending. And I -- I think that's something we need to be very careful about.

QUESTION: (OFF-MIKE)

MCCONNELL: Yes.

QUESTION: (OFF-MIKE)

MCCONNELL: Temporarily.

QUESTION: (OFF-MIKE)

BOEHNER: No, I don't have anything specific in mind, but I think the president-elect today in his remarks made clear that, while -- while help for our economy is necessary at this point, that we have to be concerned about the deficit.

I -- you know, actions speak louder than words. And I do think that, as we develop this and we look through the balance of this year, we begin to -- to lay out, how -- how are we going to restore fiscal health to -- to our budget?

Because if -- you start to think about $800 billion to $1 trillion package on top of the deficit that we already have, you're -- you're adding an awful lot of weight to -- to the debt.

And at the end of the day, it's those of who aren't -- that are here aren't going to pay that debt. It's going to be our kids and their kids. And we can't -- we can't -- we can't bury them under the debt, and we can't buy prosperity with more and more government spending.

(CROSSTALK)

MCCONNELL: I'm told we have time for one more.

QUESTION: You've talked a lot about loans, not grants to the states. If that is not part of the package ultimately, would you not be able to support it?

MCCONNELL: I'm not going to answer any hypotheticals. I think the -- the -- our response to this package at the end is going to depend on what it looks like. That's one idea that I've laid out that I think makes sense.

I imagine it wouldn't be wildly applauded by the states. I mean, I can't imagine that they wouldn't prefer to have the money without any responsibility to pay it back. But we'll have to see what the overall package looks like in the end. Thanks a lot, everybody.

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