Obama to offer debt ceiling update as deadline nears
July 15th, 2011
09:00 AM ET
7 years ago

Obama to offer debt ceiling update as deadline nears

Washington (CNN) - President Barack Obama is scheduled to hold a news conference at 11 a.m. ET Friday to provide an update on the status of marathon negotiations to raise the federal debt ceiling - a subject which has brought partisan tempers to a boil over the past week.

Obama told congressional leaders Thursday he expected them to consult with their respective caucuses and find agreement over the next 24 to 36 hours on how to proceed.


Filed under: Congress • Debt • Deficit • President Obama
soundoff (26 Responses)
  1. Rudy NYC

    SuperD wrote:
    The real problem here is if we have to reduce the size of govt.
    Reagan himself set the Republican Party on that noble cause duing his speech at the 1964 Republican Convention. (It was a great speech until he began to advocate open nuclear war with the USSR) I'm independent and agree with the idea of smaller governemnt.

    Despite Reagan's altruistic words, when he took over as President we say one the largest increases in the size of government ever. He inflated the Dept. of Defense into what we have today with its' webs of defense contractors. Democrats hate the waste at the Pentagon.

    George W. Bush wasn't for smaller government, either. He created the Dept. of Homeland Security, which is comprised of nearly 500 separate sub-agencies. The department has a budget that is the hundreds of billions.

    So, while Republicans may preach the benefits of smaller governments, once they get into office all they do is inflate the size of government under the guise of national security.

    July 15, 2011 11:03 am at 11:03 am |
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