President Obama speech: I am confident we may reach a compromise

Speaking from the White House in a nationally televised address, President Obama warned House Republicans and Senate Democrats to reach a deal before the end of the week, saying the stakes for the US. are enormous




“For the latest decade we spent more money than we took in,”
“If we stay on the current path…interest rates could increase…and we will not have enough money to pay for vital programs such as Medicare and Medicaid,” the president added. “Both parties have a responsibility to solve the issue”

“Defaulting on our obligations is a reckless approach,” and, “I am confident we may reach a compromise”

Mr. Obama’s speech comes as Capitol Hill lawmakers continue to debate whether to increase the nation’s debt limit

President Obama speech: I am confident we may reach a compromise

Speaking from the White House in a nationally televised address, President Obama warned House Republicans and Senate Democrats to reach a deal before the end of the week, saying the stakes for the US. are enormous

“For the latest decade we spent more money than we took in,”
“If we stay on the current path…interest rates could increase…and we will not have enough money to pay for vital programs such as Medicare and Medicaid,” the president added. “Both parties have a responsibility to solve the issue”

“Defaulting on our obligations is a reckless approach,” and, “I am confident we may reach a compromise”

Mr. Obama’s speech comes as Capitol Hill lawmakers continue to debate whether to increase the nation’s debt limit

Senate Majority Leader Harry Reid and House Speaker John Boehner proposed two separate solutions Monday, however, it remains unclear whether either proposal has the necessary support to pass. Both plans will face key tests on Wednesday, once Mr. Boehner and Mr. Reid each plan to bring their proposals to the floors of their respective chambers

The White House on Monday endorsed the plan place forward by Mr. Reid, which would cut spending by $27. trillion

“Senator Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America may avoid defaulting on our obligations for the first time in our history,” told White House spokesman Jay Carney in a statement. “The ball is in their court”
enate Majority Leader Harry Reid and House Speaker John Boehner proposed two separate solutions Monday, however, it remains unclear whether either proposal has the necessary support to pass. Both plans will face key tests on Wednesday, once Mr. Boehner and Mr. Reid each plan to bring their proposals to the floors of their respective chambers

The White House on Monday endorsed the plan place forward by Mr. Reid, which would cut spending by $27. trillion

“Senator Reid’s plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America may avoid defaulting on our obligations for the first time in our history,” told White House spokesman Jay Carney in a statement. “The ball is in their court”


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