"Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down - well - (laughter) - shove spending cuts at us that will hurt seniors, or hurt students, or hurt middle-class families, without asking also equivalent sacrifice from millionaires or companies with a lot of lobbyists, et cetera - if they think that's going to be the formula for how we solve this thing, then they've got another thing coming. That's not how it's going to work. We've got to do this in a balanced and responsible way. And if we're going to be serious about deficit reduction and debt reduction, then it's going to have to be a matter of shared sacrifice -- at least as long as I'm President. And I'm going to be President for the next four years, I think, so - (applause.)
"So, anyway, for now, our most immediate priority is to stop taxes going up for middle-class families, starting tomorrow. I think that is a modest goal that we can accomplish. Democrats and Republicans in Congress have to get this done, but they're not there yet. They are close, but they're not there yet. And one thing we can count on with respect to this Congress is that if there's even one second left before you have to do what you're supposed to do - (laughter) - they will use that last second."