United States News
See other United States News Articles
Title: Obama: Time to "eat our peas" and pass debt deal
Source:
[None]
URL Source: http://www.cbsnews.com/8301-503544_162-20078418-503544.html
Published: Jul 11, 2011
Author: Stephanie Condom
Post Date: 2011-07-11 12:42:39 by no gnu taxes
Keywords: None
Views: 2250
Comments: 8
President Obama is still seeking the largest deficit reduction deal possible as part of a package deal to raise the debt ceiling, he said in a press conference today. "I continue to push congressional leaders for the largest possible deal," he said from the White House. "It is possible for us to construct a package that would be balanced, share sacrifice [and] would involve both parties taking on their sacred cows." Mr. Obama would not even entertain the notion of failing to get a deal done before the end of the month. "We are going to get this done by August 2," he said. Mr. Obama has been seeking a deal that includes $4 trillion in budget savings over a decade, but House Speaker John Boehner said on Saturday that a mid-size package of reforms -- closer to $2 trillion in savings, with no tax increases -- is the only politically viable solution. Mr. Obama said today that he appreciated Boehner's efforts to try to reach a large deal with him, but that the rest of the GOP must now step up to the plate. "I've been hearing from my Republican friends for some time it is a moral imperative to tackle our debt and deficits in a serious way," Mr. Obama said. "What I've said to them is, let's go." The president said today he would not accept a smaller, short-term deal. "We might as well do it now," he said. "Pull off the band aid. Eat our peas." Republicans have insisted on creating a deficit and debt reduction plan as a condition of voting to raise the debt ceiling - the amount of money that the U.S. government is technically allowed to borrow. The president and his economic team have repeatedly warned of catastrophic consequences for the U.S. and global economy if Congress does not increase the $14.3 trillion debt ceiling by August 2. "Failure is not an option," Treasury Secretary Tim Geithner said Sunday on CBS' "Face the Nation." "The risk we face starts to happen in July, but then on August 2 we're left running on fumes." While leaders from both parties agree that the debt ceiling should be raised before August 2, negotiations remained stalled at a White House meeting Sunday night. The president will reconvene with lawmakers Monday afternoon, and he plans to meet with them every day until a deal is forged.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 1.
#1. To: All (#0)
What is this obsession that this Kenyan and the first Sasquatch have with vegetables? I guess it must be that that is a description of the IQ range of their voter base.
#8. To: no gnu taxes (#1)
Because they are vegetables.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Replies to Comment # 1. What is this obsession that this Kenyan and the first Sasquatch have with vegetables?
End Trace Mode for Comment # 1.
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]