Washington (CNN) - President Barack Obama called on lawmakers Wednesday to overcome the "selfish" norms of politics and "do their job" in order to strike a deal on raising the federal government's current $14.3 trillion debt ceiling by the start of August.
People shouldn't get "spooked," but "the yellow light is flashing," he warned. "This is urgent."
Obama acts like raising the debt ceiling is a fundamental requirement of congress. It is not.
In fact, it is absolutely a fundamental part of the federal government's job to keep debt below the ceiling they have established for themselves. The debt limit is not what got us into trouble. The spending is.
So if Obama drives his car into a tree is it the tree's fault?!?
So how many trillions of dollars does Obama and the Democrats want to confiscate and siphon out of the private sector now to support their insane federal spending? If they want taxes, then let them propose them and spell them all out to the American people. But talking about more taxes is insane without at least several TRILLIONS in REAL CUTS being agreed to first.
With hundreds of BILLIONS in federal waste, fraud and abuse, why should we send MORE to you to mis-manage? Clean up your act and then we'll talk about more in taxes. Otherwise it is clear you are just playing the American people for fools.
Republicans intend on dragging this out to the very last second which is wreckless and irresposible. I agree with the President that if Congress can't reach a deal, they should just cancel summer right now. They shouldn't be allowed to leave the Hill until a deal is reached. I suspect a deal will be reached soon. When you threaten congressional republicans about putting in "OVERTIME," they panic and get things moving.
14th Amendment to the US Constitution
Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
Great Press Conference, if a little restrained. Our President might have pointed out that when you come on the job and the CURRENT budget is in the red $1.5 trillion, and the country is loosing 750,000 jobs per month, it's not the best time to drastically cut spending.
And mitch mcconnell wants to draw a line in the sand on 'revenue increase', she needs to understand that the President has his own line the sand.
All in All, GOOD JOB, BARRY!!
I watched Obama's press conference, I totally agree everything what he said. Listen, GOP idiots are becoming fools, out of nothing. How could they fill debt reduction without sold revenue? For that, tax who make more than 250k or more, and Oil companies, etc, then cut defense spending. GOP idiots want to cut Medicare, and social security. Nasty thugs of GOP is for the detriment of this nation....wake up, do not be resilient, protest.....o.k,
Hold your ground, Mr. President. Teh GOP wants to hold our economic well being hostage to get the cuts they want (much of it to advance their social agenda), so they won't have to compromise on taxes. Everything must be on the table. The solution must include taxes, defense, and large entitlement programs, etc. If they won't consider a comprehensive solution, then we should raise the debt ceiling now and have negotiate over the budget itself. If members of congress want to vote against raising the debt ceiling, then they must accept responsibility for the result. They WILL blink. HOLD YOUR GROUND, MR PRESIDENT !!!
We pay the members of the House & Senate $91M per year in salary. As the President said today; it's time that they do their job.
Where is the media in driving shining a light on their lack of accountability? If the press is going to whine that it deserves special treatment because of "freedom of the press" they damn well better earn it!
Instead, the President gets a silly question about whether he & Treasury Sec Gueithner are "crying wolf" about the August deadline. CNN, I know it was your reporter that asked the question. I expect your people to know the basics behind a situation.
If we don't pay all our obligations, principle & interest, when do, the capital markets will demand a HIGHER INTEREST RATE from the US Government in the form of higher rates of T-bond & T-bills. That will force other interest rates that are linked to those rates [business loans, mortgages, car loans, credit cards] higher. The Republicans – – who claim to be so business savvy – – should know this.
Instead, the GOP wants to try to play a game of chicken with the President, Congressional Democrats, Capital Markets and the everyday person that depends on those rates. The stock & bond markets turn on a dime when people run for the exits; we've all seen this and NO ONE can predict the straw that breaks the camel's back – – least of all Cantor, Boehner or McConnell.
It is irresponsible for them to not get in the boat and row it.
"Senate Minority Leader Mitch McConnell, R-Kentucky, took to the Senate floor before the start of Obama's news conference to declare that Republicans will "refuse to let the taxpayers take the hit when it comes to reducing the debt.""
This kind of irresponsible talk will insure NO SOLUTION to our debt problem. As the President pointd our, it was Congress as much as anyone that spent us into this mess, and to now say NO to paying the bills is absurd.
Why is the minority leader of the Senate acting like she runs the country?
Oh, it's MITCH mcconnell; thought t was something else.
But, but... wealthy people have more right to tax cuts than elderly have right to health care! Cut medicare! Cut Social Security! Cut everything grandma worked her whole life to earn. Only the rich matter!
Mr. President, you should have reminded the American people that you are waiting for Congress to come to agreement. Despite your best efforts, and by their request, you have stepped in to help resolve the deficit dispute. You should have pointed out that one side is not playing by the rules because they are on record as stating that they will never compromise over any issue. I think you blew it, pal.
most will go with a million dollars , but not 250,000....go after all those who make a million , pro players , entertainers they dont hire anybody.. body guards maybe...
As usual, the Republicans will hold the President hostage until the very last minutes and Obama will -cave in- to get anything done.
I wish that he would just tell the Republicans to do what is right for All America instead of endless partisan Blackmail.
"selfish"......if anyone knows anything about being "selfish" it's this guy. Well, he's certainly not "selfish" when it comes to himself. In fact, Obama is planning another 10 day family vacation at Martha's Vineyard this summer in late August. He's had so many vacations I've lost track of the number. Gee, maybe Obama should be less "selfish" and give the money he's spending on the vacations to some needy family. You folks that love this guy are FOOLS!!! Many of us out here can't even pay our bills and this "selfish" man couldn't care less as he continues to vacation, play golf, party, ruins our lives all the while snubbing us in the face.
The republicans are going to learn – this is one smart president. He knows what you're trying to do and it WON'T work. He only gets stronger when you attack him. That stems from his childhood. In the end things are going to work out. The economy is going to rebound, unemployment will go down and yes, he will be a two term president. Get used to it. In the end he will rank as one of the BEST and BRIGHTEST presidents EVER with a (D) besides his name. Dummies.