Obama Tells G8 Leaders That Health Care Reform Will Lower U.S. Deficit

By Sam Wechsler - Talk Radio News Service

Health care reform will drive down the federal deficit, President Obama said at a news conference Friday at the G8 summit in L’Aquila, Italy. Obama also discussed Iran, saying he hopes to soon welcome the politically-embroiled nation into the international community.

Obama said he understands Republicans’ concern for the U.S.'s massive budget deficit, but said “what cannot be denied is that the only way to get a handle on our medium and long term budget deficits is to corral and contain health care costs.” Obama said that while it is not absolutely necessary, he wants to pass a health care reform bill by the August congressional recess.

“My biggest job is to explain to the American people why this is so important and give them confidence that we can do better than we’re doing right now,” said Obama.

As for the nuclear weapons program in Iran, President Obama stated that he would evaluate that at the G20 meeting in September.

“The international community has said ‘here’s a door you [Iran] can walk through that allows you to lessen tensions and more fully join the international community.’ If Iran chooses not to walk through that door you have on record, the G8 to begin with, but I think potentially a lot of other countries that say we need to take further steps,” said Obama.