One Week Until Debt Deadline: President Obama Addresses Nation
President Obama addressed the nation Monday night, his seventh primetime televised address as president. The President spoke about time running out to raise the debt ceiling, as the August 2nd deadline is now only a week away.
Obama said that the country is at a stalemate and told Americans to put pressure on their elected officials to work out some sort of compromise that will keep the country out of default.
“The American people may have voted for divided government, but they didn’t vote for a dysfunctional government,” President Obama said. “So I’m asking you all to make your voice heard. If you want a balanced approach to reducing the deficit, let your member of Congress know. If you believe we can solve this problem through compromise, send that message.” (Full Speech Transcript)
Speaker of the House John Boehner spoke on behalf of Republicans after the president’s speech.
“The United States cannot default on its debt obligations. The jobs and savings of too many Americans are at stake,” Boehner responded. “The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen.” (Full Boehner Speech Transcript)
Still wondering what the big deal is with the debt ceiling and how it could affect you? Check out this quick overview.
[...] Ceiling: On Tuesday President Obama addressed the nation and called for a compromise and for Americans to put pressure on their elected officials to get a [...]