The White House on Friday said President Donald Trump “has no desire to hurt the economic well-being of Americans.”
The White House statement came after Trump was asked at a Thursday news conference whether he thought the federal government should spend more to boost the economy.
The question came after the Treasury Department said on Thursday that the federal deficit is $1.4 trillion.
Trump said he would be “unable” to “do anything that is going to hurt” the economy in his first year in office.
“If I can do anything, you will see the economy get stronger and stronger,” he said.
“It is a very important issue.
If I can get rid of the regulations, I can,” he added.
The White, which was previously unclear whether the president would use the term “fiscal cliff” when addressing the topic, said the White House would continue to consult with businesses, lawmakers and others to craft a “plan for the American people” that would be able to address “a number of issues.”
The president said in his speech that “there is nothing to be afraid of” when it comes to the debt ceiling and the threat of a government shutdown.
“If we do nothing, the American economy is going down the drain,” he told reporters.
“I am confident that the American workers will stand with the American government and will stand strong in this fight,” Trump said.