Obama endorses Senate Democratic plan on debt ceiling
July 25th, 2011
03:18 PM ET
11 years ago

Obama endorses Senate Democratic plan on debt ceiling

WASHINGTON (CNN) - President Barack Obama on Monday endorsed a debt-ceiling proposal by Senate Majority Leader Harry Reid that would cut federal deficits by $2.7 trillion and increase the federal borrowing limit through 2012, the White House said.

The plan proposed by Reid, D-Nevada, "is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan so that America can avoid defaulting on our obligations for the first time in our history," said a statement by White House Press Secretary Jay Carney. "The ball is in their court."


Filed under: Debt • Deficit • President Obama • Senate Democrats
soundoff (22 Responses)
  1. Mike

    Of course he did. Because it came from his boy Reid. Had the Repubs put the same exact plan on his desk he would threat veto saying it cut too much and didn't tax enough. And likewise the Repubs will reject this plan because it came from Reid.
    They're all worried about their re-election chances nowadays. Even those who are not up for re-election in 2012 because their base won't forget how they vote on this one.
    What a bunch of losers.

    July 25, 2011 03:22 pm at 3:22 pm |
  2. king

    obama you need to scrap every thing you was doing and start focussing intently about the infra structure and transportation modernization, this include the NASA. Its obviously you cannont deal with these lunatic fringe repugs, whos ideas always seems to turn out bad for the country: Climate is not changing, extension of the afghanistan wars, extensions of bush tax cuts, name me one thing that these repugs high jacked the country on that was successful. why the president keep caving into these people that seems to have no clue how to get out of a depression.

    July 25, 2011 03:31 pm at 3:31 pm |
  3. TomInRochNY

    Since Obama likes it, the GOP will, of course, not like it. Three, two, one . . . cue Boehner.

    July 25, 2011 03:32 pm at 3:32 pm |
  4. Joe

    Unfortunately the GOP has no idea how to say Yes.

    July 25, 2011 03:35 pm at 3:35 pm |
  5. Rudy NYC

    The biggest difference between the Reid and Boehner proposals appears to be time. How long until we have to do fight this fight again. It appears the GOTP wants this to be an ongoing fight until they resume control of the White House and Congress, which isn't going to happen again anytime soon.

    July 25, 2011 03:41 pm at 3:41 pm |
  6. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    THIS IS NEWS!!! Harry Reid actually woke up and is proposing something???!!! Do tell!! FINALLY the Democrats have something to propose!! It only took 7 months!! I don't know why people say the Democrats are slow on the uptake...

    July 25, 2011 03:42 pm at 3:42 pm |
  7. ConservaFASCISTS/Dutch, Bad Newz, VA

    I just want to know if there is any revenue in the plan. Cuts should not be the only solution.

    July 25, 2011 03:53 pm at 3:53 pm |
  8. Donkey Party

    President Obama is fast becoming one of the greatest Republican Presidents ever... Way to go Spelunkerer-in-Chief!

    July 25, 2011 04:04 pm at 4:04 pm |
  9. BeverlyNC

    The President and the Democrats are the ONLY ones who can trust with real solutions to fix this Republican-caused crisis. Republicans just want to hide from this mess they caused and throw out solutions that hurt the American People and destroy our economy for the 2nd time in 5 years. Democrats have serious long-term solutions that are fair and balanced. Republicans refuse to accept anything. They want America to fail for some sick politcal game. They are NOT leaders and we need to rid every local, state, and nationa seat of them in 2012.
    The Boehner "two step" – it's a joke and kills jobs and kills Medicare and Social Security.

    July 25, 2011 04:04 pm at 4:04 pm |
  10. Maggie

    Obama again endorsing the democrats proposal before he knows what the republicans are offering. This man is not a true leader and he is also causing a great divide in our country. He is so one-sided that he does not know how to be objective. Vote Obama out in 2012 before he destroys our country.

    July 25, 2011 04:05 pm at 4:05 pm |
  11. GI Joe

    Just heard Boner - he didn't say it, but the implication is "UP WITH CORPORATIONS, DOWN WITH THE AMERICAN PEOPLE THAT NEED JOBS".

    Cutting taxes has not led to employment; cutting spending (with no revenut increase) will not lead to employment.

    The [R]s want to make Americans poor (money is power). Vote them all out.

    July 25, 2011 04:16 pm at 4:16 pm |
  12. SuperD

    I hope the Reps reject this plan. YOU CANT RAISE TAXES NOW!

    Spending cuts and tax increases do not add up. You got to have one or the other, not both. The DEM plan is not serious, as the DEM party is not serious on spending. So we have to wallow in malaise because the President still thinks that taxing successful people is the way to go. Pathetic, DEMS have NO IDEAS!

    July 25, 2011 04:18 pm at 4:18 pm |
  13. ConservaFASCISTS/Dutch, Bad Newz, VA

    Democrat Class Warfare & Race Baiting – Destroying the economy, destroying the country

    It only took 7 months!!
    It only took George Bush and the republican regime 8 years to spend our way into unimaginable debt.

    July 25, 2011 04:19 pm at 4:19 pm |
  14. Time.tothink

    I can't believe people believe the partisan rhetoric of either party. Are you really that uniformed? Our current economic situation was caused by both parties! Instead of listening to bias do your own research. It is no wonder this country is going down.

    July 25, 2011 04:23 pm at 4:23 pm |
  15. Ranzabar

    As Mitch McConnell said, it's all about limiting Obama to one term. Everything else is secondary. The economy, jobs, you. All that matters is getting this guy out in 2012.

    So until someone, anyone other than Ed Schultz starts talking about this, it's all just blah, blah, blah...

    July 25, 2011 04:27 pm at 4:27 pm |
  16. Time for another change

    "$1 trillion in savings from winding down the wars"

    This is typical of the idiocy in our government. This was already planned, and is NOT an additional savings. It's no wonder why we are in such dire times.

    July 25, 2011 04:30 pm at 4:30 pm |
  17. Democrat Class Warfare & Race Baiting - Destroying the economy, destroying the country

    It only took George Bush and the republican regime 8 years to spend our way into unimaginable debt.
    Matched by Obama and the Democrats in 2 short years.

    July 25, 2011 04:30 pm at 4:30 pm |
  18. Sniffit

    "THIS IS NEWS!!! Harry Reid actually woke up and is proposing something???!!!"

    What a load of cmopelte and utter tripe. The Dems have been proposing things for months and months and all throughout the negotiations. Pretending they haven't is complete garbage and just a blatant attempt at repeating a atlking opint in hopes that people believe it is true. The parties have been going back and forth and around the mulberry bush for months, both sides insisting on myriad variations of a deal that would satisfy their own goals and their base. Painting this as having been months of the GOP proposing things while the Dems just sat there is a LIE...and total fabrication brought to you by the Rove misinformation machine and Red State Teatroll Nation.

    July 25, 2011 04:33 pm at 4:33 pm |
  19. Sniffit

    "Obama again endorsing the democrats proposal before he knows what the republicans are offering."

    Actually, he doesn't need to know the GOP's latest offer. The proopsal Reid made is 100% composed of elements that both parties have already agreed to...during the talks with Biden and during the more recent negotiations at the WH, etc. If the GOP refuses to accept this, which is ostensibly everything they've asked for other than the ulterior motive of getting the Dems to sign off on Medicare and SS cuts so it will be harder to bash the GOP over the head with Ryan's CouponCare Crapshoot, then they have proven beyond any reasonable doubt that they are and have been doing nothing but playing partisan political games trying to destroy Obama and fiddling while Rome burns for the past 6 months while they controlled the House.

    July 25, 2011 04:37 pm at 4:37 pm |
  20. Anthony

    Wow. Democrats are proposing more spending cuts up front than Republicans. Democrats are proposing 2.7 trillion in cuts over 10 years, while Republican will cut 1.2 trillion up front, with another 1.8 trillion to be determined by a commission. In other words, Republicans don't know where to find that 1.8 trillion yet. I suppose when there is only 500 billion in non-defense discretionary spending out of the 3.8 trillion budget, it is hard to find spending cuts. Republicans would need an agreement with Democrats to cut the mandatory spending (including Social Security, Medicare, and Medicaid) because they would need political cover to cut these programs. Democrats, on the other hand, are willing to cut defense spending, which is at 900 billion in 2011, including the costs of the wars in Iraq and Afghanistan. If we wind down these wars, we can save more money than what Republicans are proposing up front. If we let the Bush tax cuts expire, we might even get rid of the deficit once the economy recovers. Thanks, Republicans, for everything. I know you hate to hear this, but it is still Bush's fault.

    July 25, 2011 04:37 pm at 4:37 pm |
  21. bill

    ConserveFascists/Dutch, Bad Newz, Va

    It only took George Bush and the republican regime 8 years to spend our way into unimaginable debt.
    And it only took obama and the democratic regime 2 years to double it.

    July 25, 2011 04:38 pm at 4:38 pm |
  22. Doug

    Of course he does becaise its a scam since $1 Trillion is assumed savings from ending our two wars early. Reject this deal and start over.

    July 25, 2011 04:44 pm at 4:44 pm |