Marc Ambinder.

Q:    Mr. President, thank you.  How do these negotiations¹ affect negotiations or talks with Republicans about raising the debt limit?  Because it would seem that they have a significant amount of leverage² over the White House now, going in.  Was there ever any attempt by the White House to include raising the debt limit as a part of this package?

THE PRESIDENT:  When you say it would seem they’ll have a significant amount of leverage（手段，影响力） over the White House, what do you mean?

Q    Just in the sense that they’ll say essentially³ we’re not going to raise the -- we’re not going to agree to it unless the White House is able to or willing to agree to significant spending cuts across the board that probably go deeper and further than what you’re willing to do.  I mean, what leverage would you have --

THE PRESIDENT:  Look, here’s my expectation -- and I’ll take John Boehner at his word -- that nobody, Democrat⁴ or Republican, is willing to see the full faith and credit of the United States government collapse⁵, that that would not be a good thing to happen.  And so I think that there will be significant discussions about the debt limit vote.  That’s something that nobody ever likes to vote on.  But once John Boehner is sworn in as Speaker, then he’s going to have responsibilities to govern.  You can’t just stand on the sidelines and be a bomb thrower.

And so my expectation is, is that we will have tough negotiations around the budget, but that ultimately we can arrive at a position that is keeping the government open, keeping Social Security checks going out, keeping veterans services being provided, but at the same time is prudent⁷ when it comes to taxpayer⁸ dollars.

Jonathan Weisman, last question.

Q    Some on the left have questioned -- have looked at this deal and questioned what your core values are, what specifically you will go to the mat on.  I’m wondering if you can reassure⁹ them with some specific things in saying, all right, this is where I don’t budge⁶.  And along those lines, what’s going to be different in 2012, when all these tax cuts again are up for expiration¹⁰（终结） ?

THE PRESIDENT:  Well, what’s going to be different in 2012 we’ve just discussed, which is we will have had two years to discuss the budget -- not in the abstract, but in concrete terms.  Over the last two years, the Republicans have had the benefit of watching us take all these emergency actions, having us preside over a $1.3 trillion deficit¹¹ that we inherited and just pointing fingers and saying, that’s their problem.

Well, over the next two years, they’re going to have to show me what it is that they think they can do.  And I think it becomes pretty clear, after you go through the budget line by line, that if in fact they want to pay for $700 billion worth of tax breaks to wealthy individuals, that that’s a lot of money and that the cuts -- corresponding cuts that would have to be made are very painful.  So either they rethink their position, or I don’t think they’re going to do very well in 2012.  So that’s on the first point.

With respect to the bottom line in terms of what my core principles are --