President Obama Says that a Debt Deal Needs to Get Done by Tuesday

As Congress wrestles with competing plans to raise the $14.3 trillion ceiling and cut federal spending, President Obama said Saturday that Republicans and Democrats “are not that far apart” and need to close the gap quickly to avoid an economically crippling default.

A deal is necessary by midnight Tuesday “so that our country will have the ability to pay its bills on time,” Obama said in his weekly radio address. “Bills like Social Security checks, veterans’ benefits, and contracts we’ve signed with thousands of American businesses.”

Obama spoke after House Republicans passed a debt reduction bill that included a six-month extension of the debt reduction, as well as $917 billion in spending cuts over ten years — only to see the Democratic-run Senate promptly kill the plan.

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  • Gjacolby83

    Why is the House trying to send a bill that would only increase the debt limit for 6 months. They would be in the same position and that does not make any sense at all. I mean what are these people doing?! I know what they are not doing…..working for the people! 

  • LIZ

    The hatred of Obama is a continuum of what has NOT Changed. Obama came in with his hands tied firmly behind his back. In retrospect, the 1964 election, in which Lyndon Johnson defeated Barry Goldwater in a landslide, was the last hurrah of the Democratic Party. Republicans won 5 of the 6 elections between 1968 and 1988, and 7 of the 10 elections between 1968 and 2004, thus establishing firm control over the institutions of national power, including the Supreme Court. The actual Hatred of the poor and people of color is at best hard for a Liberal to grasp. Yet, the path back to Supremacy has been in progress since Civil Rights Laws were enacted. Kennedy died for one reason, one term Johnson did NOT want to die so he bowed out realizing what could happen! It is time to realize and truely believe it is all present. We as a People must unite and organize as we have in the past. This time around face the FACT Racial hatred never ended, Supremacy & “House Negroes” are alive and working in their set positions, destroy what is inferior to them. The “House Negro” is still reporting to the ‘Massa’ and underminding the Blacks they have been made to feel they are above!