Obama: "We Don't Have An Urgent Deficit Crisis"

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PRESIDENT OBAMA: We don't have a problem in terms of spending on education. We don't have a problem when it comes to spending on research and development. We do have a long-term problem that has to do with our health care programs, Medicare and Medicaid. The good news is, is that in part because of the Affordable Care Act, Obamacare, costs have actually gone down -- health care inflation has gone down to the slowest rate that we've seen in a long time. So we're starting to get health care costs under control.

We'll still have to make some modifications when it comes to our long-term entitlement programs so that they're here for young people here when they're ready for retirement, but we don't have an urgent deficit crisis. The only crisis we have is one that's manufactured in Washington, and it's ideological. And the basic notion is, is that we shouldn't be helping people get health care and we shouldn't be helping kids who can't help themselves and whose parents are underresourced, we shouldn't be helping them get a leg up. (Binghamton University, 8/23/2013)

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