Obama tells nation debt stalemate requires compromise now
July 25th, 2011
09:52 PM ET
11 years ago

Obama tells nation debt stalemate requires compromise now

WASHINGTON (CNN) - Congress is at a stalemate over raising the federal debt ceiling, and Americans need to pressure their elected representatives to work out a compromise that will avoid a potentially devastating default, President Barack Obama told the nation Monday night.

In his seventh prime time televised address, Obama sought to increase pressure for congressional leaders to reach a deal that would allow the government to continue borrowing money to pay its debts after August 2.


Filed under: Debt • Harry Reid • John Boehner
soundoff (15 Responses)
  1. j anderson

    Our petition to recall 100 politicians has reached over 50 million signatures. Is this really what the government wants?

    July 25, 2011 11:20 am at 11:20 am |
  2. GI Joe

    For two years now the republicans have "played along" and even put forth their OWN plans on all kinds of things, ONLY TO SWITCH AND BAIT AND VOTE AGAINST THEIR OWN BILLS.

    TWO years people. Don't trust them. It's a stalling game to send the country into a panic and then claim "they" want to save the country. It's been stated over and over that they will do ANYTHING to make sure our president is one-term.

    DO NOT TRUST THE REPUBLICANS. They ran on jobs jobs jobs jobs jobs, and have gone after abortion, gays, social security, medicare, medicate, voter rights, and on and on. DO NOT TRUST THEM - they lie.

    July 25, 2011 11:22 am at 11:22 am |
  3. John

    That Right and John Boehner has no reason to not agree to Harry Reid Plan It got 2.7 Trillions In cuts and he Only want to rise the dept ceiling 2.4 Trillions and NO TAXES TO BE RISE. If John Beohner does not agree to this than that mean the Republican are playing Politics with American People money. Because If the Stock market drop the money the American People has In IT will go by by. It time to Compromise. and the deal will go all the way thought the 2012, that mean the American People will not have to go thought this crap again next years. American People are feed up with the Republican Crap, they flat refuse to Compromise. It will be all the Republican fault.

    July 25, 2011 11:30 am at 11:30 am |
  4. gt

    hopefully these two can control the fringe from the right and the left... were broke thats not hard to understand...

    July 25, 2011 11:36 am at 11:36 am |
  5. ConservaFASCISTS/Dutch, Bad Newz, VA

    I see they're both calling for cuts, but where in the world is the revenue? If there is no revenue involved, then there should be no deal. They should go ahead and give the President a clean bill to raise the limit with no strings attached. The republican fascist regime have no idea what SHARED SACRIFICE means. They want to cut their way to prosperity while protecting billionaires tax loopholes.

    July 25, 2011 11:37 am at 11:37 am |
  6. Rudy NYC

    House Speaker John Boehner, R-Ohio, is expected to outline a two-stage plan.
    I guess Speaker Boehner does not believe the credit ratings agencies any more than Tea Partiers believe in a debt ceiling. All agencies have clearly expressed misgivings about a short term solution of the type favored by Boehner. And I had thought Boehner was immune to strong tea. I guess not.

    I find it amazing that we have a significant number of elected officials who lend more credibility to media comedians than they do to respected credit agencies, and facts.

    July 25, 2011 11:38 am at 11:38 am |
  7. B

    The rest of the World is watching this!

    Unfortunately we have already shown to a great degree that Politics are much more important in this country than Common Sense.

    This country could drive over the cliff because of intrenched extremism that the Republicans have displayed to the World.

    The Republicans GOD Reagan increased the debt ceiling 17 times.. Also, where the Hell where all of these conservatives for eight long years when Bush was digging this hole for us all ?

    July 25, 2011 11:42 am at 11:42 am |
  8. Bill from GA

    Here's an idea. RAISE THE DEBT LIMIT

    Make it high enough to get us through the next election. Then the voters can show their approval or disapproval

    The 2012 budget goes in effect September 1. Cut spending THERE, if it can be done. But that is how our system works: we spend money through budgets.

    If you don't like our Representative Government, get over it. Most of us don't like how it is working, but for many DIFFERENT reasons. But to work it requires COMPROMISE.

    We pay our bills, also. The Constitution mandates it.

    July 25, 2011 11:42 am at 11:42 am |
  9. Meggs

    The GOP are the only ones who submitted a plan. Reid has done nothing and told the Senate to take the weekend off. The President is being held hostage by the lunatic left who thinks the top 5% can fund our entire goverment. The only one unwilling to negoitiate is the President who has deception down to an art. He constantly speaks ouf out both sides of his mouth and everyone knows it. The GOP is safe in my district and most the the 6 souther states I have lived in if we default – they can't work with a President who is untruthful during negotiations.

    July 25, 2011 11:45 am at 11:45 am |
  10. Fair is Fair

    "The republican fascist regime have no idea what SHARED SACRIFICE means."
    As long as it's not YOU doing the sacrificing, eh?

    July 25, 2011 11:54 am at 11:54 am |
  11. ThinkAgain

    @Meggs: President Obama doesn't think the top 5% can fund our entire government; he knows – as I do – that the rich in this country can afford to pay their fair share and the budget shouldn't be balanced on the backs of the poor and the elderly.

    It's the least the rich can do for the country that gave them the opportunity to make their wealth in the first place – and whose infrastructure they use and take for granted.

    Regarding deception and being untruthful, cite examples of the President doing this. The GOP is the party that is holding our country hostage in these negotiations, putting party before country, pandering to their millionaire and billionaire buddies. Use some of your computer time to do some research – specifically on how historically our country has done better economically under Democratic administrations than Republican – and that the Republican economic policies are PROVEN FAILURES!

    July 25, 2011 11:57 am at 11:57 am |
  12. Dominican mama 4 Obama

    Annie, Atlanta

    Mitch McConnell said the #1 goal of the Republicans was to make sure Obama was a one term president. It has now become as plain as the nose on my face that these people will absolutely destroy the global economy to make sure that happens. I don't know what we call this, terrorism, treason, sedition, or a combination of both, but they should be put on trial as enemies of the state.
    I don't see anything "sensationalistic" about world markets dropping like flies ALL BECAUSE the Rethugs are hellbent on making this President fail even if it takes our country down the toilet to do so.
    There is nothing patriotic about this. There is no concern for what it will do to seniors, military personnel, or anyone else that through no fault of their own is dependent on a government issued check.
    The Rethugs have crossed the line into indecency, and amorality. They have completely sold out to their "special interests", primarily their particular brand of power-hungry greed.
    You can try to paint this any other color, or spin this "never before in the history of our country" occurence any way you want, but it all boils down to something as simple and as frightening as Black and White.
    Absolutely SHAMEFUL.

    July 25, 2011 11:57 am at 11:57 am |
  13. ThinkAgain

    @GI JOE: I couldn't agree more. The GOP's plan has long been to bring our country to its knees, divide its people, instill fear, hatred and division, and then blame all our woes on the Democrats.

    Why? Because the GOP knows that they have NOTHING to offer us, but desperately want to control and own our country, lock, stock and barrel, for their millionaire and billionaire multi-national corporate masters.

    July 25, 2011 11:59 am at 11:59 am |
  14. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    Why don't they just agree to raise the debt ceiling to $100 TRILLION. The next 5 generations are good for it right? Isn't that the Democrat Party plan? To keep spending, taxing and borrowing until we're Greece?

    July 25, 2011 11:59 am at 11:59 am |
  15. stayintrue

    Wow, now isn't that special. Almost 800 days with Dems in control of all three houses, and yet they have not had an opinion or budget. NOW Harry Reid has one. Yawn. Nothing political here. The Dems could have passed any budget 700 days ago that took care of all those 'poor and vulnerable' they so dearly want to protect. Now what were they doing? Oh yes, spending stimulus dollars, passing a hopeless health care bill, attacking the Tea Party, and having their very own party on tax payer dollars. Remember Nancy Pelosi's trip to Copenhagen with all those friends and family, the best wine, etc. Right, to help secure the Olympics for Chicago. They were busy taking care of the poor. PULEEEEZE

    July 25, 2011 12:20 pm at 12:20 pm |