Remarks by President Obama Before Cabinet Meeting, August 3, 2011

Washington, DC–(ENEWSPF)–August 3, 2011 – 2:05 P.M. EDT

        THE PRESIDENT:  Well, obviously, this has been an eventful last few days.  As I have said yesterday, we have now averted what could have been a disastrous blow to the economy.  And we have identified on the front end over a trillion dollars in spending reductions that can be done sensibly and safely without affecting core programs.  And we now have a committee process in Congress…