Press Gaggle by Press Secretary Robert Gibbs and Special Assistant to the President for Economic Policy Brian Deese en route Detroit, MI

Aboard Air Force One
En Route Detroit, Michigan

10:49 A.M. EDT

MR. GIBBS:  — a number of the decisions that the President will highlight today at both stops in Michigan. 

First, well, as you guys know and as we’ve talked about over the past couple of days, we’re going to visit a Chrysler plant that has — that is adding a new shift, 1,100 workers, and next go to a GM facility that is producing the new Chevy Volt.

Just to sort of recap a little bit from yesterday, this is the first time the Big Three have reported — all three have reported an operating profit in the same quarter — happened this year, so for the first time since 2004.

The auto industry the year before the President came into office lost more than 300,000 jobs.  Since GM reemerged from bankruptcy, the auto industry has added 55,000 jobs.  So — and that’s the first time that the auto industry has been adding jobs in — since 1999, so more than a decade.  So the President is going to go today to highlight this story, to talk about the decisions that he made, talk about the tough sacrifices that workers and management had to make and highlight the beginnings of what we hope will be a long-term, good news story.

Q    Robert, what’s the administration’s reaction to the Commerce report, kind of disappointing about the recovery?  And do we need more stimulus?

MR. GIBBS:  Well, look, I think that the statistics today confirm what a lot of people in Michigan that we’re going to talk to today and a lot of people around the country knew, and that is the new statistics and the revisions for 2007, 2008 and 2009 demonstrate that this is the longest and deepest recession on record in our history. 

We lost more than 8 million jobs.  And we know times have been tough.  Look, we have seen over the course of this year so far steady job — I’m sorry steady economic growth at about 3 percent, but we all know we have to do more, and we have to do better.

I’d say the first thing that needs to happen to address the statistics today is for the Republicans in the U.S. Senate to stop playing politics with what ought to be a pretty easy thing, and that is cutting capital gains taxes for small business, allowing small businesses to deduct more from their taxes when they invest in new equipment, and to provide community banks with the capital that small businesses need to get quickly.

That’s the best response — short-term response we could have to these numbers is for the Republican Party that preaches it virtually — virtually every time somebody puts a tape recorder in their face about how much they want to help small business, now it’s time to walk the walk, not just talk the talk.

Q    Will the administration change any of its policies based on the second quarter report?

MR