Liveblog: Obama addresses the nation on debt
July 25th, 2011
08:54 PM ET
11 years ago

Liveblog: Obama addresses the nation on debt

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

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

Filed under: Congress • Debt • Deficit • President Obama
soundoff (306 Responses)
  1. John N Florida

    "It's not my place to tell the American people what to think." – John Boehner
    I'm taking him at his word.................and ignoring what he says since he, obviously, doesn't expect me to believe him.

    July 25, 2011 09:23 pm at 9:23 pm |
  2. Deborah P. Thomas

    John boehner thinks he is the President. He doesn't get it. He is not the President and needs to stop fighting the President and move on. He just does not want to give in...he'd rather see the government fall than give in a tid bit. Go somewhere and CRY.

    July 25, 2011 09:24 pm at 9:24 pm |
  3. Nina

    Reagan increased the national debt 13 times, Bush 7 times and the GOP had NO problems with this. So why Now are they having problems with paying the bills by increasing the debt? Boehner, you want to decrease spending? End the darn wars and close over 700 bases around the world.

    July 25, 2011 09:24 pm at 9:24 pm |
  4. Joe leibovich

    Why does it seem as though we are at war within our own government!!!

    July 25, 2011 09:24 pm at 9:24 pm |
  5. Genine

    Compromise!!!! I'm with the President

    July 25, 2011 09:24 pm at 9:24 pm |
  6. Deedles

    Let's see... Reagan/Bush1 era... spend, spend, spend... Clinton era... ended with money in the bank and balanced budgets, Wall Street booms... Bush2... war, war, war, spend, spend, spend, cut, cut, cut taxes for rich people when he was done the country was in the worst recession since the great depression...we make money and life is good when democrats are in charge, but when rich republicans are in charge they make even more money for themselves and put the burdens on the poor and working class. Doesn't anyone have a memory anymore?

    July 25, 2011 09:24 pm at 9:24 pm |
  7. Phil

    The fact that we're here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit. – Barak Obama 2006

    July 25, 2011 09:25 pm at 9:25 pm |
  8. blue jay in cali

    on the positive end, at least the tea party will go down in history as why we do not want to send joe the plumber to represent us in congress.

    July 25, 2011 09:25 pm at 9:25 pm |
  9. thetruth

    who are you to say that it wont past mr speaker of the house....God has the last say doe doe!!!!!!!

    July 25, 2011 09:25 pm at 9:25 pm |
  10. LBW

    President Obama's plan is the only fair way to settle this. The Wealthy MUST pitch in – they are as much a cause of the problem as the government is itelf. I would actually support going to the wall – take the default on the chin than let the wealthy bail out – with the "bailouts" they got from our backs.

    July 25, 2011 09:25 pm at 9:25 pm |
  11. Laura Morales

    I don't know why the American people don't all get together, go to Washington and demand that the Republicans be reasonable or kick out their butts to the street. After all, they are effecting ALL of us by their stubborness.

    July 25, 2011 09:25 pm at 9:25 pm |
  12. Paul Paul

    Ahhh Republicans. First they create a problem and then they berate anyone who dares to point a finger at them. I want a third political party here that doesn't fall under one of those two parties.

    July 25, 2011 09:26 pm at 9:26 pm |
  13. Jim Ferrell

    In the 20 years that Boehner has been in Congress, how much has he voted for increasing the debt ceiling? Is he not part of the Washington that he said needs to change? Why is he changing now?

    July 25, 2011 09:26 pm at 9:26 pm |
  14. Nicole Borger

    So, Obama says Social Security may not be paid after 8-2-11 if they don,t reach an agreement. I have a better idea. Rather than not paying the people who need that small check every month, let's not pay any politician for the next year and see if that helps them to work a little harder for Us, the little people. Re-post this if you agree. I DID!!! AMEN!!!!..... i understand that they say we are in dead.... no we are not just the government.. i like what Obama said as the people that have the money they should come forward and help if they say that they are Americans then step up. Us people that live on penny s do not have money to live on like they do

    July 25, 2011 09:26 pm at 9:26 pm |
  15. lonewolfncub

    Boehner did not address the issues. How is this a response? It was only an attack on Obama and more politics as usual. Boehner did not address the issue of ending the Bush era tax cuts and closing tax loopholes for the wealthy why the middle class is expected to foot the bill. We need leadership that represents the people, not the wealthy and not special interests.

    July 25, 2011 09:26 pm at 9:26 pm |
  16. South Sider

    This man is such a liar. Everywhere I turn, people are saying he is the leader, he needs to lead. But he is not a leader. What does he do? Tries to go back on his word on a deal they struck last week and sneak in an extra 400 B in more spending. That's bad business. But this is a President with a lack of basic business principles. This is evident. I'm extremely disappointed in Obama. In this speech he keeps talking at me , trying to convince me of how I should be thinking. It's warped. Get a backbone Dude. People don't like your condescending tone. We know how to keep books better than you do.

    July 25, 2011 09:27 pm at 9:27 pm |
  17. Gary

    Washington is broken and The House of Representatives seem intent on 'representing' the 2% of people who might carry some of the burden by closing some ridiculous and exclusive loopholes. Whether they're cozying up to large interest groups or trying to stand by an infantile pledge they made not to increase revenues matters not- THEY NEED TO BE FIRED.

    July 25, 2011 09:27 pm at 9:27 pm |
  18. laura

    Mr. Boehner is sure singing a different song now! Certainly not the "lets spend it all now" tune he was singing under Bush and before! I despise the hypocrite! He should remember that it was himself and his fellow congressmen who ran us into this debt... how dare he try to blame the President!

    July 25, 2011 09:27 pm at 9:27 pm |
  19. Clint, Wa.

    Same old crap, republicans, its our way or the highway, no compromise

    July 25, 2011 09:28 pm at 9:28 pm |
  20. June Conover

    Speaker Boehner doesn't seem to see that the tax breaks for oil companies and loopholes for the wealthy do not create jobs & the few that are created are very low paying. You want the President to agree to cutting programs for the poor and middle Class and carry the entire burden. We should be out of Iraq, Afganistan & Pakistan. That would balance the budget!

    July 25, 2011 09:28 pm at 9:28 pm |
  21. John

    Repulicans want to close the deficit with no discussion about the high brakets paying a lower effective rate than their secretaries. They refuse to aknowlege this dispartity. They are tranparent and need to be removed from office.

    July 25, 2011 09:28 pm at 9:28 pm |
  22. Tara Flint

    I am on Social Security, and have made my compromise, though it was forced, by not getting a raise for two years. I am so irritated that the corporations and wealthy are not willing to do the same. It is a ridiculous that WE, the people of this country, who elected those in the congress and the senate, know that this financial situation is VERY SIMPLE, if compromise is made. WE, the people of this country, did not elect those in congress and the senate, to waste time, while our LIVES and WELL BEING is up in the air. And that we are just a FOOTSTEP away from living in the streets. In order to stabilize things, sacrifices have to be made. STOP GAMBLING WITH OUR LIVES AND WELL BEING. GET WITH THE PROGRAM.

    July 25, 2011 09:28 pm at 9:28 pm |
  23. Todd

    Come on USA let's get this show back on the road! Raising the debt ceiling is ABSOLUTELY THE MOST IMPORTANT ISSUE RIGHT NOW! Were you upset about your kids having to pay back our debt before? Well it's about to get exponentially worse if we don't figure this out before default. If our credit rating drops, WE'LL OWE MORE ON THE MONEY WE ALREADY OWE! WE ALREADY KNOW THAT SLASHING THE BUDGET BY A TRILLION OR TWO ISNT GOING TO BE ENOUGH!!! RAISE THE DAMN DEBT CEILING AND FIX THE BUDGET NEXT MONTH!!!!!!!

    July 25, 2011 09:28 pm at 9:28 pm |
  24. Ramsglen

    OMG....... The day came and went and the world din't blow up. The stock market had a normal day after a big week last week. Mr. President, what is happening. Did someone lie to us about all the damage that was going to happen if we didn't give you another 2.7 trillion to blow? You are so full of it I wonder what your true color is? Get busy and cut the spending and get us some jobs. You only have 15 months left to show you are a hair better the Jimmy Carter. That is the only legacy you can leave the US.

    July 25, 2011 09:28 pm at 9:28 pm |
  25. Jonathan

    There was absolutely zero substance to Boehner's speech. Not only is he a typical politician, but he's also a liar. He just lied to our faces. No stalemate? 'Cut, Cap, and Balance' enjoyed bipartisan support? 5 Democrats voted 'Aye' to the bill.

    July 25, 2011 09:28 pm at 9:28 pm |
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