Washington (CNN)–President Barack Obama addressed the nation on the debt ceiling seven days before the nation is forecast to reach the debt limit of $14.29 trillion dollars. Lawmakers must reach an agreement before August 2 to increase the amount of money the nation can borrow and avoid the possibility of default. Republican Speaker of the House John Boehner delivered a response to the address following the president's remarks.
11:18 p.m. ET @EWErickson Boehner's plan is best called "Punt, Kick, & Pass." Punts to another commission, kicks the can & passes more debt onto future generations.
11:00 p.m. ET @ChuckSchumer Time for @SpeakerBoehner to lead his caucus; right now, extreme bloc in House is leading him instead
10:13 p.m. ET @PressSec Jay Carney (EOP) As #POTUS said, Americans are "fed up with a town where compromise has become a dirty word." Rs & Ds need to come together, and act.
10:00 p.m. ET @KyungLahCNN What do you think? #Japan's yen now below 78, big concerns in Tokyo of impact to Japan from lack of #debt ceiling deal. Who do you blame?
9:53 p.m. ET @CoryBooker Obama agrees with Reagan (and every other president over the past 30 yrs). it is outrageous not to raise debt limit and pay our obligations.
9:46 p.m. ET @JeffFlake President wants a balanced approach? How 'bout agreeing to sign cut, cap & balance.
9:45 p.m. ET @DanaPerino I think potus could help himself if next appearance included Bo the dog – dogs can help sell anything!
Read the full liveblog after the jump.
9:35 p.m. ET @JonHuntsman @BarackObama's call for tax increases and his own politically convenient timetable are misguided and reckless
9:35 p.m. ET @LisaDCNN OBAMA v BOEHNER political bottom line: Tonight was time travel from #debt debate to opening shots in 2012 election cycle.
9:32 p.m. ET @rolandsmartin It's time for YOU to ride Congress to get a deal. In the morning, CALL 202-225-3121 & BLOW UP the lines of ALL members of Congress! RT!
9:29 p.m. ET @LarrySabato Dems think Obama did well. Rs think Boehner did well. And in a nutshell there's the problem.
9:28 p.m. ET @PJCrowley The world is indeed watching. We must live within our means, but #America also has national and global interests that default would harm.
9:26 p.m. ET @EWErickson Boehner's speech was right on. The problem is Boehner's plan doesn't cut enough to avoid a credit downgrade.
9:23 p.m. ET @LisaDCNN Boehner yet to answer president's charge that his bill would just "kick the can" to next year and rattle the markets.
9:22 p.m. ET Speaker Boehner: This debate isn't about President Obama and House Republicans … it isn't about Congress and the White House … it's about what’s standing between the American people and the future we seek for ourselves and our families.
You know, I’ve always believed, the bigger government, the smaller the people. And right now, we have a government so big and so expensive it’s sapping the drive of our people and keeping our economy from running at full capacity.
The solution to this crisis is not complicated: if you’re spending more money than you’re taking in, you need to spend less of it,
There is no symptom of big government more menacing than our debt. Break its grip, and we begin to liberate our economy and our future.
We are up to the task, and I hope President Obama will join us in this work.
God bless you and your families, and God bless America.
9:21 p.m. ET Speaker Boehner: You see, there is no stalemate in Congress. The House has passed a bill to raise the debt limit with bipartisan support. And this week, while the Senate is struggling to pass a bill filled with phony accounting and Washington gimmicks, we will pass another bill – one that was developed with the support of the bipartisan leadership of the U.S. Senate.
Obviously, I expect that bill can and will pass the Senate, and be sent to the President for his signature. If the President signs it, the ‘crisis’ atmosphere he has created will simply disappear. The debt limit will be raised. Spending will be cut by more than one trillion dollars, and a serious, bipartisan committee of the Congress will begin the hard but necessary work of dealing with the tough challenges our nation faces.
The individuals doing this work will not be outsiders, but elected representatives of the people, doing the job they were elected to do as outlined in the Constitution. Those decisions should be made based on how they will affect people who are struggling to get a job, not how they affect some politician’s chances of getting reelected.
9:19 p.m. ET @LisaDCNN BOEHNER: President Obama wants business as usual, a routine increase in the debt. GOP will say "not so fast".
9:18 p.m. ET @LisaDCNN BOEHNER: Introduces himself. He is the speaker of the "whole house".
9:17 p.m. ET House Speaker John Boehner response: Good evening. I’m John Boehner. I serve as Speaker of the whole House - of the members of both parties that you elect. These are difficult times in the life of our nation. Millions are looking for work, have been for some time, and the spending binge going on in Washington is a big part of the reason why.
Before I served in Congress, I ran a small business in Ohio. I was amazed at how different Washington DC operated than every business in America. Where most American business make the hard choices to pay their bills and live within their means, in Washington more spending and more debt is business as usual.
I’ve got news for Washington – those days are over.
President Obama came to Congress in January and requested business as usual - yet another routine increase in the national debt limit - we in the House said 'not so fast.’ Here was the president, asking for the largest debt increase in American history, on the heels of the largest spending binge in American history.
Here's what we got for that spending binge: a massive health care bill that most Americans never asked for. A 'stimulus' bill that was more effective in producing material for late-night comedians than it was in producing jobs. And a national debt that has gotten so out of hand it has sparked a crisis without precedent in my lifetime or yours.
The United States cannot default on its debt obligations. The jobs and savings of too many Americans are at stake.
What we told the president in January was this: the American people will not accept an increase in the debt limit without significant spending cuts and reforms.
And over the last six months, we’ve done our best to convince the president to partner with us to do something dramatic to change the fiscal trajectory of our country. . .something that will boost confidence in our economy, renew a measure of faith in our government, and help small businesses get back on track.
Last week, the House passed such a plan, and with bipartisan support. It’s called the ‘Cut, Cap, and Balance’ Act. It CUTS and CAPS government spending and paves the way for a Balanced Budget Amendment to the Constitution, which we believe is the best way to stop Washington from spending money it doesn’t have. Before we even passed the bill in the House, the President said he would veto it.
I want you to know I made a sincere effort to work with the president to identify a path forward that would implement the principles of Cut, Cap, & Balance in a manner that could secure bipartisan support and be signed into law. I gave it my all.
Unfortunately, the president would not take yes for an answer. Even when we thought we might be close on an agreement, the president’s demands changed.
The president has often said we need a 'balanced' approach - which in Washington means: we spend more. . .you pay more. Having run a small business, I know those tax increases will destroy jobs.
The president is adamant that we cannot make fundamental changes to our entitlement programs. As the father of two daughters, I know these programs won’t be there for them and their kids unless significant action is taken now.
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.
9:15 p.m. ET President Obama: History is scattered with the stories of those who held fast to rigid ideologies and refused to listen to those who disagreed. But those are not the Americans we remember. We remember the Americans who put country above self, and set personal grievances aside for the greater good. We remember the Americans who held this country together during its most difficult hours; who put aside pride and party to form a more perfect union.
That’s who we remember. That’s who we need to be right now. The entire world is watching. So let’s seize this moment to show why the United States of America is still the greatest nation on Earth – not just because we can still keep our word and meet our obligations, but because we can still come together as one nation. Thank you, God bless you, and may God bless the United States of America.
9:13 p.m. ET President Obama: Congress now has one week left to act, and there are still paths forward. The Senate has introduced a plan to avoid default, which makes a down payment on deficit reduction and ensures that we don’t have to go through this again in six months.
I think that’s a much better path, although serious deficit reduction would still require us to tackle the tough challenges of entitlement and tax reform. Either way, I have told leaders of both parties that they must come up with a fair compromise in the next few days that can pass both houses of Congress – a compromise I can sign. And I am confident we can reach this compromise. Despite our disagreements, Republican leaders and I have found common ground before. And I believe that enough members of both parties will ultimately put politics aside and help us make progress.
I realize that a lot of the new members of Congress and I don’t see eye-to-eye on many issues. But we were each elected by some of the same Americans for some of the same reasons. Yes, many want government to start living within its means. And many are fed up with a system in which the deck seems stacked against middle-class Americans in favor of the wealthiest few. But do you know what people are fed up with most of all?
They’re fed up with a town where compromise has become a dirty word. They work all day long, many of them scraping by, just to put food on the table. And when these Americans come home at night, bone-tired, and turn on the news, all they see is the same partisan three-ring circus here in Washington. They see leaders who can’t seem to come together and do what it takes to make life just a little bit better for ordinary Americans. They are offended by that. And they should be.
The American people may have voted for divided government, but they didn’t vote for a dysfunctional government. 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.
America, after all, has always been a grand experiment in compromise. As a democracy made up of every race and religion, where every belief and point of view is welcomed, we have put to the test time and again the proposition at the heart of our founding: that out of many, we are one. We have engaged in fierce and passionate debates about the issues of the day, but from slavery to war, from civil liberties to questions of economic justice, we have tried to live by the words that Jefferson once wrote: “Every man cannot have his way in all things…Without this mutual disposition, we are disjointed individuals, but not a society.”
9:10 p.m. ET @AriFleischer I guess O forgot he voted against raising the debt limit when he was a senator. Not so routine then I guess...
9:10 p.m. ET President Obama: And Republican leaders say that they agree we must avoid default. But the new approach that Speaker Boehner unveiled today, which would temporarily extend the debt ceiling in exchange for spending cuts, would force us to once again face the threat of default just six months from now. In other words, it doesn’t solve the problem.
First of all, a six-month extension of the debt ceiling might not be enough to avoid a credit downgrade and the higher interest rates that all Americans would have to pay as a result. We know what we have to do to reduce our deficits; there’s no point in putting the economy at risk by kicking the can further down the road.
But there’s an even greater danger to this approach. Based on what we’ve seen these past few weeks, we know what to expect six months from now. The House will once again refuse to prevent default unless the rest of us accept their cuts-only approach. Again, they will refuse to ask the wealthiest Americans to give up their tax cuts or deductions. Again, they will demand harsh cuts to programs like Medicare. And once again, the economy will be held captive unless they get their way.
That is no way to run the greatest country on Earth. It is a dangerous game we’ve never played before, and we can’t afford to play it now. Not when the jobs and livelihoods of so many families are at stake. We can’t allow the American people to become collateral damage to Washington’s political warfare.
9:08 p.m. ET @LisaDCNN Getting lots of tweets from you guys that this sounds like a campaign speech.
9:08 p.m. ET President Obama: Now, what makes today’s stalemate so dangerous is that it has been tied to something known as the debt ceiling – a term that most people outside of Washington have probably never heard of before.
Understand – raising the debt ceiling does not allow Congress to spend more money. It simply gives our country the ability to pay the bills that Congress has already racked up. In the past, raising the debt ceiling was routine. Since the 1950s, Congress has always passed it, and every President has signed it. President Reagan did it 18 times. George W. Bush did it 7 times. And we have to do it by next Tuesday, August 2nd, or else we won’t be able to pay all of our bills.
Unfortunately, for the past several weeks, Republican House members have essentially said that the only way they’ll vote to prevent America’s first-ever default is if the rest of us agree to their deep, spending cuts-only approach.
If that happens, and we default, we would not have enough money to pay all of our bills – bills that include monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses.
For the first time in history, our country’s Triple A credit rating would be downgraded, leaving investors around the world to wonder whether the United States is still a good bet. Interest rates would skyrocket on credit cards, mortgages, and car loans, which amounts to a huge tax hike on the American people. We would risk sparking a deep economic crisis – one caused almost entirely by Washington.
Defaulting on our obligations is a reckless and irresponsible outcome to this debate.
9:07 p.m. ET @cnnbrk #Obama on what default could mean: "Interest rates could climb for everyone who borrows money" #debt http://t.co/3ilpiFX
9:06 p.m. ET President Obama: Because neither party is blameless for the decisions that led to this problem, both parties have a responsibility to solve it. And over the last several months, that’s what we’ve been trying to do. I won’t bore you with the details of every plan or proposal, but basically, the debate has centered around two different approaches.
The first approach says, let’s live within our means by making serious, historic cuts in government spending. Let’s cut domestic spending to the lowest level it’s been since Dwight Eisenhower was President. Let’s cut defense spending at the Pentagon by hundreds of billions of dollars. Let’s cut out the waste and fraud in health care programs like Medicare – and at the same time, let’s make modest adjustments so that Medicare is still there for future generations. Finally, let’s ask the wealthiest Americans and biggest corporations to give up some of their tax breaks and special deductions.
This balanced approach asks everyone to give a little without requiring anyone to sacrifice too much. It would reduce the deficit by around $4 trillion and put us on a path to pay down our debt. And the cuts wouldn’t happen so abruptly that they’d be a drag on our economy, or prevent us from helping small business and middle-class families get back on their feet right now.
This approach is also bipartisan. While many in my own party aren’t happy with the painful cuts it makes, enough will be willing to accept them if the burden is fairly shared. While Republicans might like to see deeper cuts and no revenue at all, there are many in the Senate who have said “Yes, I’m willing to put politics aside and consider this approach because I care about solving the problem.” And to his credit, this is the kind of approach the Republican Speaker of the House, John Boehner, was working on with me over the last several weeks.
The only reason this balanced approach isn’t on its way to becoming law right now is because a significant number of Republicans in Congress are insisting on a cuts-only approach – an approach that doesn’t ask the wealthiest Americans or biggest corporations to contribute anything at all. And because nothing is asked of those at the top of the income scales, such an approach would close the deficit only with more severe cuts to programs we all care about – cuts that place a greater burden on working families.
So the debate right now isn’t about whether we need to make tough choices. Democrats and Republicans agree on the amount of deficit reduction we need. The debate is about how it should be done. Most Americans, regardless of political party, don’t understand how we can ask a senior citizen to pay more for her Medicare before we ask corporate jet owners and oil companies to give up tax breaks that other companies don’t get. How can we ask a student to pay more for college before we ask hedge fund managers to stop paying taxes at a lower rate than their secretaries? How can we slash funding for education and clean energy before we ask people like me to give up tax breaks we don’t need and didn’t ask for?
That’s not right. It’s not fair. We all want a government that lives within its means, but there are still things we need to pay for as a country – things like new roads and bridges; weather satellites and food inspection; services to veterans and medical research.
Keep in mind that under a balanced approach, the 98% of Americans who make under $250,000 would see no tax increases at all. None. In fact, I want to extend the payroll tax cut for working families. What we’re talking about under a balanced approach is asking Americans whose incomes have gone up the most over the last decade – millionaires and billionaires – to share in the sacrifice everyone else has to make. And I think these patriotic Americans are willing to pitch in. In fact, over the last few decades, they’ve pitched in every time we passed a bipartisan deal to reduce the deficit. The first time a deal passed, a predecessor of mine made the case for a balanced approach by saying this:
“Would you rather reduce deficits and interest rates by raising revenue from those who are not now paying their fair share, or would you rather accept larger budget deficits, higher interest rates, and higher unemployment? And I think I know your answer.”
Those words were spoken by Ronald Reagan. But today, many Republicans in the House refuse to consider this kind of balanced approach – an approach that was pursued not only by President Reagan, but by the first President Bush, President Clinton, myself, and many Democrats and Republicans in the United States Senate. So we are left with a stalemate.
As a result, the deficit was on track to top $1 trillion the year I took office.
9:05 p.m. ET @AriFleischer As a senator, O supported an even more expensive, bigger Medicare drug program, which wasn't paid for.
9:03 p.m. ET @LisaDCNN OBAMA: so far, saying I inherited the deficit and then the economy tanked.
9:02 p.m. ET @EWErickson The President starts out blaming the GOP. Hey GOP, guess what he'll do if Boehner's plan passes and we lose our credit rating?
9:02 p.m. ET President Obama: To make matters worse, the recession meant that there was less money coming in, and it required us to spend even more – on tax cuts for middle-class families; on unemployment insurance; on aid to states so we could prevent more teachers and firefighters and police officers from being laid off. These emergency steps also added to the deficit. Now, every family knows that a little credit card debt is manageable. But if we stay on the current path, our growing debt could cost us jobs and do serious damage to the economy. More of our tax dollars will go toward paying off the interest on our loans. Businesses will be less likely to open up shop and hire workers in a country that can’t balance its books. Interest rates could climb for everyone who borrows money – the homeowner with a mortgage, the student with a college loan, the corner store that wants to expand. And we won’t have enough money to make job-creating investments in things like education and infrastructure, or pay for vital programs like Medicare and Medicaid.
9:01 p.m. ET Note: Standing off to stage right in the East Room: Chief of Staff Daley, fellow Chicagoan Valerie Jarrett, Press Secretary Jay Carney.
9:01 p.m. ET President Obama Good evening. Tonight, I want to talk about the debate we’ve been having in Washington over the national debt – a debate that directly affects the lives of all Americans.
For the last decade, we have spent more money than we take in. In the year 2000, the government had a budget surplus. But instead of using it to pay off our debt, the money was spent on trillions of dollars in new tax cuts, while two wars and an expensive prescription drug program were simply added to our nation’s credit card.
8:41 p.m. ET @David_Gergen In past, Presidents usually give emergency speeches about someone outside hurting USA. This is a self-inflicted wound!
8:36 p.m. ET @ErinBurnettCNN Source who met w/S&P says SIZE of Boehner plan is the problem.MIGHT not be enough to avert downgrade,needs to be closer to $3TR all at once.
8:35 p.m. ET @David_Gergen On CNN, will be watching #Obama, #Boehner to see if they can get past posturing, lead us to safety.
8:22 p.m. ET Robert Reich during interview on CNN Social Security "is not the problem." Says social security is actually in surplus right now, and is making the deficit actually look smaller than it is.
8:18 p.m. ET Sen. Jeff Sessions during interview on CNN "The problem we've got is not the debt ceiling. The problem we have is the surging deficit."
6:52 p.m. ET @AWMooneycnn More on Obama's speech: He will outline no new plan
Republicians doublied the debt in ten years and never mentioned it as a crisis until they lost the presidency. Now they complain about it to win back the office and worse, hold the country hostage to raising the debt ceiling unless they get to pass a plan which will tax corporations less and keep all bush tax cuts for the top 2% while putting all the burden on the middle class, seniors and the poor to reduce the deficit. How rediculous. Are they out of their minds? Please tea party members, don't you see how you are being dubed by these tactics? Don't you understand that most government spending mainly goes to the private sector in wages, contracts and entitlements which get spent keeping people employed?
Obama inherited a train wreck and a hemmorage in 2008. Instead of helping, the other side has been pulling out the tubes, because they want him to fail more than they want the country to recover. And if he were to fail, who wins?
He is doing the best he can dealing with people who never learned the kindergarden rule of compromise in democracy: no one gets just their way. Others do too.
Good. Now that Republicans are hell bent on spending cuts in a time of recession, jobless recovery. With tax cuts supposed to be creating jobs now, where are they, hiding in a cave? Let's do this. Take a big chopping knife, with one stroke, cut all the programs in republican states in one stroke that should save heck of a lot of money. All the republican house members will then hear directly from their constituents. One can also surgically aim congressional districts that elected Republican hardliners and Tea Baggers for the immediate – let's do it next week itself, why not – they wants cuts right..... Though one wouldn't want to do such a thing, Republican are behaving cheap, want to deliberately jam president and make him look bad and they are dissing him.
Maybe this will finally expose the truth to the majority of our nations problems. We are supposed to be the United States of America run by a unified government, instead we became the United States of Democrats and Republicans. How is that any different than having Confederate and Union states. We all need to be United with one purpose, and that's doing what's best for the citizens of the "Best Country in the World".
I make enough $ to be a Republican, but care enough about my fellow Americans to still be a Democrat. While it is important to get our debt under control we need to have a balanced plan and tax people like me. I am willing to pay more, just tax me for now. Then Change the tax system completely to a flat tax putting the rates where they need to be to pay our yearly costs. By the way all members of congress should be taking a 25% cut in their pay to help the country out I support the President and yes I still have enough respect to call him the President not Mr. Obama the position deserves the respect even if you do not agree with him.
When the press, esp. Fox Republicans, try to give 'ownership' to Obama of the wreckage he was elected into, it's like blaming the First Responder for the catastrophe. He inherited not only the Bush debt for 2 wars no one way paying for, collapsing Wall Street, and 3 major car companies on the ropes, but a hostile and unscrupulous media, in Murdoch's Fox networks. Obama has righted the boat as well as he can, sailing with pirates.
The republicans seem to be purposefully trying to wreck the economy to ensure it's in bad shape for the 2012 election and blame it on Obama.
Obama's right, time to end the tax breaks for millionaires passed under Bush and close the loopholes. That will produce more revenue. Since Wall Street gamed the rules to produce more rapacious profits, it's time to pay their share back into the pot the rescued them. The very wealthy don't need the tax breaks they got under Bush; middle class Americans do.
Obama is saying that the tax code was skewed by the last administation in favor of MILLIONAIRE GIVE-AWAYS that are unnecessary and unprecedented. It's true. He wants to close those. Guess who doesn't want him to?
Disguisting and selfish! The people of this country know what the Republicans are doing....I know we don't count....but we are not as stupid as you think. We can recognize a liar when we see one.
Effective Government is not Smaller Government, As the US Civil War showed Smaller Government(Confederate) loses to Larger Governments(Union)/Entities everytime, Want a Confederate type Government with a small and weak Federal Government? Then the US could/would suffer the fate of the CSA which was small and weak, As not ALL enemies are Countries, Corporations have had power that almost rivaled the US Government back when Teddy Roosevelt was President of the USA and that's where the Sherman Anti-Trust Act came from. This is what History says, As blood has been shed to prove this point... Only fools go where wise Men fear to tread and those who want Smaller Government are fools.
Are you people hearing yourselves? It's simple, just sign cut cap and balance? Do you have any idea what that will do to our country? First, no more medicare, no more social security, no more anything to help people. But that is what the rich want? To stop out of their Lexus and trump over the dead festering carcuses of those less worthy on the way to a pedicure. This country is in a sad state and greed has come out now more in politics then I have ever seen. Our president has done everything in his power to try and reach an agreement, and the R's want it all with no revenue increase. Afterall, they have mortgages on their mansions, best to pay for that with the food of the elderly and the sick.
While we do need to cut spending in areas, you also have to have revenue. Thanks George Bush you pile of you know what for taking us down this path. And thanks even more to the uninformed R's who can't even correctly recant history, driving the train to the pit.
Sign Cut Cap and Balance? Your about to light a powder keg of class warfare. When SS checks don't come and people are homeless, complacency will be diminshed.
I heard Mr. Grover from ATR speak on OBama not compromising. Well I remember when Mr. Norquist had only two people in his sublet office with no secretary, along with other so non-profit organization that are suppose to be non-partisan, but there agenda is the same now as it was then. They pretend to be for the American people and reform, but it's very partisan. Go back and research and you;ll find they have always had a Republican Agenda. It's anything to get Obama out. It's not about the welfare of the country and her people. It's all about political gain, not compromising. What are teaching our children about being reasonable. The future generation of politicians are watching. Let's do the right thing and kick them all out. This would be a great lesson for history. Congress is doing nothing but drawing a pay check. Let's take back our Country, and a Country without political parties. God is Watching!! We reap, what we sow. Just do the job.
Boehner and Obama can talk for months and nothing will happen. Boehner can't get the Tea Party on his side and the Tea Party and all the Republicans are married to Grover Norquist. Has anyone bothered to tell Norquist that he is not a Senator yet?
I just called my Republican Representative for the first time. I also wrote an email to Speaker Boehner for the first time. I suggested that being children on a playground was not fitting for leaders that our children depend on for their future.
R's are totally committed to an income shift to the upper income class at the people's expense
Boehner needs to stop lying and compromise. The rich corporations should not be allowed to keep tax cuts while the rest of us pay our share- and we are not making huge profits as these corporations are!
Our president is CORRECT! I support him 100%
The Republicans are completely out of touch with the American people. Who are these "American People" they're referring to when talking about the debt ceiling. There must be a compromise or the GOP will become extinct. I remember what MItch McConnell said when the Republicans took the House in 2010 that their only goal is to make President Obama a one-term President. Well Mr McConnell and you and your party will fail in that particular goal. However, your party is doing a fine job of bringing down America. As a Independent voter who voted Republican in the past, it is very clear to me and I'm sure to alot of other voters that your party is not for America only for the special interest that's running it. If America defaults on it's obligations, rest assured the GOP will be swept out the door like dirt being swept out of a house.
Tick Tock Republicans because America sees you as a hindrance in getting things done. You are holding this country hostage because of some stupid pledge. Don't worry about not getting re-elected because you went against your party's pledge because if you don't come on board you will be swept out of office period dot.
Signed Sick and Tired of Both Sides Bickering
The Gop needs to STOP acting like spoiled rotten selfish little brats.
Boehner is the worst of them. The difference between them and a two years old brat is that the two year old eventually gives in when he doesn't get his way. Yes, I agree that we need to cut spending, but NOT AT THE EXPENSE of we elderly. We have paid OUR dues by having to pay into the Social Security all our workinjg lives. Boehner and his partners in this need to STOP their tantrums NOW and stop holding all of hostage by refusing to raise the debt ceiling and putting all of the people in this country at great financial risk. The elderly, the middle class and the poor are the ones who will suffer most by his plan. Some of us one SS are just barely making it now and he wants to cut SS? that is pure bologna. They all need to grow up and make a compromise now, with out hurting those of us who would suffer the most. There are many other areas in which cuts could, should and can be done. How about everyone in the House and the Senate going without their pay checks. If we going default you can bet and be sure that each and everyone of them will MAKE SURE that they get paid. Better yet, let's cut THEIR pay. Huge savings there. Would they like it if THEIR parents and grandparents were facing the possibility of homelessness and starvation or dying because they do not have they money to do the co-pay for their medications on Aug 2? Maybe they should face that themselves and see how it feels.
We must stand behind our President. To default on our debt would put us all in the poorhouse...I'm willing to pay more taxes, but PLEASE do not take monies from senior medicare and social security or we'll all be on your doorstep!! We have to stand together as a nation and object. Settle this crisis now to save face if we can now at all...
Stop trying to soak the rich by increasing taxes on businesses. Why, because businesses don’t pay the taxes. They pass the taxes on down the line in the price of the goods and services. The price of the raw materials includes the income tax, which is passed on to the company that takes the raw materials and produces , plastics, metals, paper, and other usable products to be made into products, which may be further processed at each level, until it hits the retail level as a good, or is used in a service.
At each point, the income tax from one business gets added to the ultimate price of the product. Guess who pays the taxes in the end. That’s right, you and I. On top of the income tax is the cost to calculate, properly report, and pay these taxes. So, when you increase taxes on a business, you increase taxes individuals pay, from the poor to the rich.
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Pay your bills..... The debt ceiling was raised 19 times to pay for 2 wars and a bunch of foolishness, now you even thnk about defaulting when you want individuals to pay it's debt. Pay your bills and find other ways to cut the deficit with another measure. If the same energy was exerted to create jobs used here to avoid paying the country's bills, the economy would have been rebounded by now. I can't imagine the rich having the money and default on their obligations, same for this country.
The President is correct! He can and he has support!
The GOP/TP leaves one speechless! The dislike of the work in this party of “NO, HELL NO!” is turning into real rage and disgust!
They totally forgot the magic word: COMPROMISE
They say they talk for the “American People”? They are not even talking for the “Republican voter” anymore! The way the GOP/TP behaves and lies so shameless towards the country and the disrespect towards OUR AMERICAN PRESIDENT, is not to be forgiven and also not going to be forgotten in 2012!