Custom Search

Friday, July 15, 2011

Obama Hopes For Grand Debt Ceiling Deal; House GOP Balks

During Today's Press Conference Pres. Obama Made It Crystal Clear To House GOP Leaders If They Allow Our Country's Debt Ceiling To Default For The FIRST Time In History, He Vowed To Remind Voters Which Party Is Responsible.

He's Also Reminding Voters Which Party Is Filibustering Several Jobs Programs Bills Currently Sitting In The House.

Ex: Pres. Obama's Infrastructure Jobs Bank Bill Which Would Put More Than 2 Million Construction Workers Back On The Job Immediately.

What A Shame GOP Leaders Seem To Care More About Protecting Billionaires & Millionaires Than They Do Mainstreet!


Obama Reiterates Desire for Comprehensive Budget Package

President Obama on Friday reiterated his desire to reach a grand bargain that would deal with the nation’s long-term debt problems even as leaders in Washington take action to avoid a financial default by the government.

Mr. Obama said that he was encouraged by comments from lawmakers in both parties signaling an understanding of the need to increase the nation’s debt ceiling in the next two weeks.

“The American people expect more than that. They expect that we try to solve our problem,” Mr. Obama said. “We have a chance to stabilize America’s finances for a decade, for 15 years or 20 years, if we are willing to seize the moment.”

Asked whether he continues to have hope for a broader deal that could raise the debt ceiling and deal meaningfully with the nation’s burgeoning debt, Mr. Obama smiled broadly.

“I always have hope. Don’t you remember my campaign?” he said. “Even after two-and-a-half years, I continue to have hope.”

The 35-minute news conference gave Mr. Obama an opportunity to summarize his position after a week of news accounts of his sometimes contentious closed-door meetings with Republican lawmakers.

The president said those reports were overblown, suggesting they were part of a “reality TV” obsession with whose feelings get hurt during high-stakes political negotiations.

“This notion that things got ugly is just not true,” he said. “We have had very constructive conversations.”

But Mr. Obama did not appear to view the news conference as a fresh opportunity to persuade Republican lawmakers to agree to a specific deal.

Rather, the president appeared to be preparing for the ongoing debate on the issues of the debt, spending and taxes in next year’s presidential election.

“What the American people are paying attention to is who seems to be trying to get something done,” he told reporters.

That message is certain to be a key part of Mr. Obama’s re-election campaign as he presents himself as the adult in a room full of squabbling children. Aides hope his efforts to reach a deal during the debt debate — even if unsuccessful — will reinforce that image.

“There may be some movement, some possibility, some interest, to just get something more than just the bare minimum,” Mr. Obama said. “We have enough time to do a big deal. But in order to do that, we have got to get started now.”

Even before Mr. Obama’s news conference, Republican House leaders told reporters that they planned a vote next week on a plan that would increase the debt ceiling in exchange for $2.4 trillion in spending cuts over 10 years and the passage of a balanced budget amendment.

After gathering privately with his Republican members, House Speaker John A. Boehner reiterated his belief that no plan that includes any tax increase could pass the House.

Mr. Obama dismissed the House Republican plan, saying cuts of that magnitude would adversely affect needed programs for the middle class and would be unfair without asking millionaires to pay more in higher taxes.

“I have not seen a credible plan that would allow you to get to $2.4 trillion without really hurting ordinary folks,” he said. “That doesn’t seem like a serious plan to me.”

Mr. Obama also said a balanced budget amendment was not necessary if “we do our jobs.”

“We don’t need a constitutional amendment to do our jobs,” he said. “The Constitution already tells us to do our jobs.”

The president insisted that the public supports efforts to cut spending and raise taxes on wealthy individuals and corporate interests. And he blamed Republican lawmakers for refusing to bend.

“You have 80 percent of the American people who support a balanced approach,” he said. “The problem is members of Congress are dug in ideologically. They boxed themselves in with previous statements.”

Mr. Obama told lawmakers Thursday night that it was time for the talking to end and urged Congress to formalize a plan that could avert the first default on the nation’s obligations.

Senators from both parties are beginning to do just that as they begin closed-door debate on the details of a plan first suggested by Senator Mitch McConnell of Kentucky, the Republican leader.

Under the broad outlines of the plan, Congress would cede its authority over the debt ceiling to Mr. Obama, but would require that he increase it in several increments. The plan also would reportedly include a new commission to deal with broader tax reform.

Senator Harry Reid of Nevada, the majority leader, is working with Mr. McConnell to turn the idea into legislation. But it remains unclear whether the plan could win the support of conservatives in the House, who have demanded trillions of dollars in spending cuts.

View Larger Map

Sources: CNN, NY Times, Youtube, Google Maps

No comments: