We're looking for stuff everyone agrees is a complete waste of time. Many agencies have forgotten how to deregulate. It's been so long since somebody asked them to look backwards.

We are trying to get a border wall to protect millions of low income Americans against folks who aren't supposed to be here. So, it's a national security.

The reason we've been growing at 1.8 percent for the last eight, ten years, which is way below the historical average, is in large part because of our tax code. It is important to us to get the biggest, broadest tax reduction, tax cuts, tax reform that we can possibly get because it's the only way we get back to 3 percent growth. That's what's driving all of this, how do you get the American economy back on that historical growth rate of 3 percent and out of these doldrums of 1.8, 1.9 that we had of the previous Barack Obama administration?

We're looking for stuff everyone agrees is a complete waste of time. Many agencies have forgotten how to deregulate. It's been so long since somebody asked them to look backwards.

Growth works. What we're doing in the administration to spur growth in terms of regulatory form work. And what we're working is to make sure that those tax cuts add to that. We do believe that sustained 3 percent economic growth is possible and that that is the way you can balance the budget long-term.

If we can get to that 3 percent grow, it is $2 trillion to $2.5 trillion worth of more government revenues. It's 12 million additional jobs. And those are 12 million jobs paying into Medicare, 12 million jobs paying into Social Security. Growth really is what's driving all of this and growth is what our focus is, which is why we're willing to accept increased short-term deficits in exchange for that long-term payoff.

I believe, as a matter of principle, that the debt is a problem that must be addressed sooner rather than later. I also know that fundamental changes are necessary in the way Washington spends and taxes if we truly want a healthy economy.