"I don't deny the debt is a serious and frightening thing for some people, but I do think it's important to get it into perspective in terms of the lifetime costs of what goes on and to ask the question of whether such an investment is indeed worthwhile, " he said.

BBC: Tuition fees a tax on learning say Tories

So I think the worst thing we can do is encourage a process that may result in some sort of trade friction or trade war between the two largest economies in the world.

WHITEHOUSE: Briefing by Deputy Press Secretary Josh Earnest

And there is no agenda, there's no goal in terms of budget or any other issue, except to have that kind of conversation, which I think he finds to be a useful thing to do in terms of, in some ways, creating a better environment for the kind of work that the White House and the Congress need to do together.

WHITEHOUSE: Press Briefing