President Obama Says Congress is ‘Almost Out of Time’ in Reaching Debt Deal
- Posted on July 29, 2011 at 10:08am by
Billy Hallowell
- Print »
- Email »
This morning, President Obama warned the nation that Congress is running out of time to pass a debt ceiling plan. In addition to highlighting dangers surrounding the nation’s credit rating, the president issued calls for a bi-partisan plan. The USA Today has more:
President Obama said today it is urgent that Congress pass a debt ceiling plan and essential that it have bipartisan support if it is to become law and stave off a possible government default.
“There are plenty of ways out of this mess, but we’re almost out of time,” Obama said at the White House.
Obama also warned that the nation is in danger of having its credit rating lowered, leading to higher interest interest rates that amount to tax hikes on most Americans.
The administration says that the government will run out of borrowing capacity on Tuesday. The president has asked for a $2.4 trillion increase over the $14.3 trillion debt ceiling to help cover government obligations into 2013.
Obama urged Democrats and Republicans in the Senate Friday to come together on a plan that can pass the House and that he can sign. He spoke at the White House as a bill by Republican House Speaker John Boehner to lift the debt ceiling and slash spending remained unexpectedly stalled after Boehner failed to muster the necessary votes.
Republicans were set to try again Friday and Senate Majority Leader Harry Reid announced plans to move forward on a rival measure ahead of the Tuesday deadline to act or face unprecedented default.
The Associated Press contributed to this report.
Popular Stories
Paper Details Obama Admin’s Alleged Secret Note Sent to Iran: If Israel Attacks, We Won’t Get Involved 591 Comments
This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
President Obama Issues Major ‘Green Energy’ Executive Order 383 Comments
Roseanne Barr: Most Billionaires ‘Violent Pedophiles’ & ‘Heartless’ Cocaine Addicts 376 Comments
Faith
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
Pakistani Muslim Cleric Accused of Framing Disabled Christian Girl in Koran-Burning Case Read More- ‘Made Up Religion’: TV Historian Enrages Muslims, Receives Threats After Producing UK Documentary Questioning Islam’s Beginnings 415 Comments
Meet the Controversial German Imam Accused of Brutally Beating His Wife & Pushing Sharia Law Read More
‘Self-Proclaimed Messiah’ & Unification Church Leader the Rev. Sun Myung Moon Has Died — Here’s His Life Story Read More
Business
- President Obama Issues Major ‘Green Energy’ Executive Order 383 Comments
- Germany’s Upcoming Court Ruling Will be Huge for the EU Read More
Ford Looks to Beat Toyota for Best-Selling Car in 2012 With This Model 151 Comments
Bernanke & QE3: Here’s What You Need to Know 100 Comments- ‘Extortion’: Why Did the Labor Department ‘Drop the Hammer’ on Oregon Farmers? 303 Comments
Technology
- This Is the Creationists‘ Response to Scientist Bill Nye’s Viral Pro-Evolution Video Claiming They Harm Children 417 Comments
‘TaserDrone’: Hackers Weaponize Quadcopter With Actual ‘Shocking’ Technology Read More
Ever Heard of the Wild ‘Burning Man’ Festival in the Middle of the Nev. Desert? Here’s Your Primer Read More
Stanford Develops Technology ‘Better Than Steroids’ for Athlete Recovery Read More
Have You Pretended to Know What ‘the Cloud’ Is? You’re Not Alone Read More
Submitting your tip... please wait!
Comments (160)
eyestoseeearstohear
Posted on July 29, 2011 at 10:42amREMBER: THIS SOB IS THE NO. 1 SPENDER….AND DIDN’T SEE A PROBLEM WITH ALL THE SPENDING “ HE” SPENT SINCE 2008.
The REST OF THEM, were MAJOR PLAYERS in contributing to the situation we are in NOW.
Report Post »stacie01872
Posted on July 29, 2011 at 10:44amwhy bother to watch? we know what he’s going to say already. “Bush is to blame, the previous administration did it”. blah blah blah blah blah
Report Post »stacie01872
Posted on July 29, 2011 at 10:48amrepublicans need to just give them their way so that the little people can see for themselves what happens when you raise taxes in the middle of a recession- and let the dems spend spend spend. Then maybe 2012 will be obama’s demise. Of course they‘ll spin it so that it’s the republicans fault,
Report Post »as usual. Gullible americans. I’m thinking maybe the democrats are right when the say americans are too dumb to make their own decisions
BuckOfama
Posted on July 29, 2011 at 10:54amIs O-blame-a just going to blame the same people for his failures? Hell yeah……..
Report Post »sWampy
Posted on July 29, 2011 at 10:59amDumb and evil, the democrats rely on class warfare, the let’s stick it to the rich argument would never, ever work on an HONEST person.
Report Post »SavingtheRepublic.com
Posted on July 29, 2011 at 11:00am^____^____^
Report Post »You are right but the radical left are experts of painting a different story to the zombie voters, the sames ones that will re-elect those who got us into this mess. That is the other big problem, how one combats thats you got me at this point as there is no one besides radio personalities like Beck, Limbaugh, Levin etc educating people. The zombie army doesnt listen to radio they listen to their handlers who will program them that its all the evil rich banks, GOP, TEA party and of course Bush’s fault.
Stop playing their game and start playing your game http://SavingtheRepublic.com
Miguelito
Posted on July 29, 2011 at 11:05amHow many lies did the president present at his press conference today? An addict has to hit rock bottom before they make a behavioral change….maybe this country need to hit rock bottom to make a behavioral change about waste and spending…start by not paying congress! These people are the problem and it is time for “We The People” take our country back! Pray America!!!!!
Report Post »shazam3
Posted on July 29, 2011 at 11:14amWhen our credit rating goes down only Soros will win, he will take billions out of it just like the Thais, France/Hungary/Georgia/UK. Soros is calling the shots backed up by the “bomb throwers” of the 60′s and the Communists that the Gov allowed to preach sedition. All this budget malarky is just that, the elites want no change at all they all want to spend our money.
Report Post »Alky
Posted on July 29, 2011 at 11:16amAccording to the CBO, doing nothing with the debt ceiling will be a 9 trillion dollar cut over 10 years!!
Report Post »knockered
Posted on July 29, 2011 at 11:17amIt’s all part of his plan to bring down the U.S. He is just sitting back and agitating the problem instead of leading them to a solution. He is a smart and devious person who is playing his cards along with that Soros *****.. Be prepared..
Report Post »sWampy
Posted on July 29, 2011 at 11:33amWe may have to just let it crash, generations of people suffered, life expectancy was shortened in the 30′s when the liberals did this before, and again in the 70′s when Carter did it, we came back, stronger and better, it’s sad our kids will have to suffer because of these evil liberal idiots.
Report Post »StonyBurk
Posted on July 29, 2011 at 11:46amAnd in 2006 Senator Obama opposed raising the debt ceiling editorial in todays Daily Sentinel (GJCO daily paper by Josh Penry about Will ‘adults in Washington push the debt onto our children? @gjsentinel.com) And see Patriot Post quoting the reasonable Thomas Jefferson on debt in Sep.1789 letter to Madison- “the earth is for the Living” Thomas Jefferson :Writings Library of America Merrill D. Peterson Editor (1984 edition) p959-964 sound advise from the Founding era the “progressives” and the borrow and spend Democrats loath and fear.
Report Post »DeliverUsFromEvil
Posted on July 29, 2011 at 12:16pmHere‘s to hoping the publisher of Obama’s book “Dreams From My Father” will, upon reprint, insist on retitling it “Dreams From My Father are Nightmares For Most Americans.”
Love you, Hussein, you nutty goofball. Now get out of here, I mean it.
Report Post »loriann12
Posted on July 29, 2011 at 1:15pmSome have heard the voice of the Americans, but most are politicians who just want to get re-elected. What Obama means is raise my credit card limit so I can keep on spending, and not paying it back. Who long does it take to pay off a deficit when you’re only paying the interest? Ask someone who has maxed out their credit card.
Report Post »Paydert33
Posted on July 29, 2011 at 1:36pmYep…….o-loser’s stimulus failed, obamacare is losing money before it even begins, now he wants to cover his hind end for his election, after all it is his radical power he is most concerned with, not… We The People, or he wouldn’t be doing the things he is doing. No wonder he has that mean and scarred look on his face. He is not getting his way with the Republicans. He sees trouble on the horizon for his continued radical, fundamental changes to this country of ours. The debt, he has more then doubled, and he wants more and more to run us in the ditch not pull us out of the ditch like he said he did. He lies and lies day after day. Scarring older Americans, veterans, etc. so he can continue his socialist agenda and more. As he said, “ all you conservatives get in the back”………. Riiiiiiiiiiiiiiiight. so he can have his way on everything. You don’t scare Americans, a president is suppose to unite us. He is so far out there.
Report Post »billybe123
Posted on July 29, 2011 at 2:07pmI agree. People just don’t seem to get it. Him, Pelosi and Reid were the ones responsible getting us to this point. And there acting like its not there Fault. God almighty, people need to wake up in this country fast……!!!!
Report Post »Cyberella
Posted on July 30, 2011 at 7:30amIf the average American could read this, ANYBODY could defeat Obama in 2012:
BILLIONS FOR JIHAD!
Obama’s 2009 Supplemental Appropriations for Iraq, Afghanistan, Pakistan, and Pandemic Flu was revised and “passed by the full committee.”
It gives billions http://creepingsharia.wordpress.com/2009/05/13/obamas-supplemental-bill-passes-gives-billions-to-enemies/
of U.S. taxpayer dollars to countries and entities that support Sharia law and/or harbor, hide and support those who want to destroy the U.S. and our allies.
Read the summary from David Obey’s office that was quietly released last week with nary a word from any media.
• $3.6 billion, matching the request, to expand and improve capabilities of the Afghan security forces
• $400 million, as requested, to build the counterinsurgency capabilities of the Pakistani security forces
• Afghanistan: $1.52 billion, $86 million above the request
• West Bank and Gaza: $665 million in bilateral economic, humanitarian, and security assistance for the West Bank and Gaza
• Jordan: $250 million, $250 million above the request, including $100 million for economic and $150 million for security assistance
• Egypt: $360 million, $310 million above the request, including $50 million for economic assistance, $50 million for border security, and $260 million for security assistance
• Pakistan: $1.9 billion, $591 million above the request
• Iraq: $968 million, $336 million above the request
Report Post »Snowleopard {gallery of cat folks}
Posted on July 29, 2011 at 10:42amGod above the lies he is telling….we will default yet we can pay our bills….only the democrats can save the nation…only the democrats have the bill that is the same as the republicans…will work with the Republicans….block and veto everything sent to the Senate floor…lies, fear, demagogary at the most vile…
Another case of Superman to the rescue? Nah.
He is responsible for almost 5 Trillion or more of the debt and will not take responsibility for it; all he is seeking to do is re-election in ‘12.
Report Post »eyestoseeearstohear
Posted on July 29, 2011 at 10:54am@ SNOWLEPARD…
You are SO RIGHT!
He has played this crisis right up to the final seconds…WHICH IS HIS PLAN!
Report Post »He is NOW FORCING the plan to FALL INTO HIS LAP – giving HIM THE CONTROL
HE WANTED FROM THE BEGINNING.
MidWestMom
Posted on July 29, 2011 at 1:23pmAgree. I truly believe he, his puppet masters and his minions are purposefully trying to push the country into a position he can define as a “national emergency” and declare martial law. And I think they’ll succeed. Once that happens, its all over. The country will erupt into civil war. It’s going to be very, very, very bad very, very soon…..
Report Post »steely_eyes
Posted on July 29, 2011 at 10:41amKeep it up?? Reckless spending? Money printing? 18% unemployment? 45 million on foodstamps? OMG.
Report Post »UBETHECHANGE
Posted on July 29, 2011 at 10:41amI’d rather watch paint dry.
Report Post »Ken
Posted on July 29, 2011 at 10:46amSame here!!!
Report Post »steely_eyes
Posted on July 29, 2011 at 10:40amObankrupt and the rest of the corrupt gov-Enron-ment don’t represent ANYONE but themselves. All these frauds should be facing RICO charges, treason and financial genocide charges against the middle class. Resign already or impeach him by the end of the day. Good grief. NO ONE in America lives like these frauds.
Report Post »W@nd@
Posted on July 29, 2011 at 10:39ami am watching with the sound off He wont even look you in the eye get whip lash following his head turns!… no truth here move on!
Report Post »W@nd@
Posted on July 29, 2011 at 10:37amall of the above!
who wants to subject yourself to these same lame gut wrenching lies…
Report Post »lies more lies!
headbtweenlegs
Posted on July 29, 2011 at 10:37amKeep digging yourself in a hole.
Report Post »A Doctors Labor Is Not My Right
Posted on July 29, 2011 at 10:36amWatch the other hand!
‘Project Gunwalker’ protest can help kill ATF’s long gun reporting proposal
Report Post »http://www.examiner.com/gun-rights-in-national/project-gunwalker-protest-can-help-kill-atf-s-long-gun-reporting-proposal
steely_eyes
Posted on July 29, 2011 at 10:36am“We’re broke. Ben’s Quantitative Fleecing of the Middle Class has failed. Now, I ask you, let me have the keys to the Treasury again so I can blow another $4 trillion. This bold move will take the car I have pulled out of Bush’s Ditch and get us deeper into Obankrupt Canyon.”
Report Post »Fina Biscotti
Posted on July 29, 2011 at 10:36amHe needs to shut up and pack his bags.
Report Post »He is so sad…….and pitifully pathetic as a Punk Thug – cannot even muster “appearing” presidential.
mohavegreen
Posted on July 29, 2011 at 10:36amJust couldn’t stand it. UPS delivered a bottle of Joe Montana Jaw Juice, the white hut occupant just had to try it out.
Report Post »I.Gaspar
Posted on July 29, 2011 at 10:35amI wonder what time our precious leader will stroll in for the 10:20 campaign speech…maybe he and the mrs. are finishing off a little morning delight.
Report Post »Maybe he will “invoke the 14th amendment” and will be impeached.
I can dream….
MBA
Posted on July 29, 2011 at 10:34amI think obamy can save the campaign speech. Everyone knows what’s going on and more lies will not change anyones mind. Broke is broke and obamy and the democrats are only interested in playing their destruction of America game. Impeachment is crucial at this point to save our country. Recall for reid, pelosi and barney.
Report Post »NOBALONEY
Posted on July 29, 2011 at 10:34amLate as usual!
Report Post »LibertyGirl USA
Posted on July 29, 2011 at 10:31amObama is late as usual. I have always seen people being late as a sign of disrespect. He disrespects the American people on a regular basis.
Report Post »Snowleopard {gallery of cat folks}
Posted on July 29, 2011 at 10:36amStill waiting…zzzzzz….universe ends….universe begins again…..ends….begins…Obama still late.
Report Post »moreteaplease
Posted on July 29, 2011 at 10:29amNope, I cannot listen to another stomach wrenching load of bull be spewed by a cast member of the Harry, Barry and Piggy show.
The only thing they do is pass blame and whine like a bunch of spoiled brats who have no clue whatsoever.
Report Post »EqualJustice
Posted on July 29, 2011 at 10:28amNO THANKS. I already KNOW what he will say. Not interested in the “up against the wall” thanks to the Tea Party crap. The Dems own this one and sholud have PASSED a dam budget before the end of 2010! They had NO problem pushing Obamacare through!
Report Post »jkjk
Posted on July 29, 2011 at 10:28amI guarantee you that this weasel of a man is going to turn this whole thing around and blame republicans. I just hope someone answers to his political grandstanding, and tells the people the truth about all the weasels on the left and the problem they created.
DONKEY = LIAR & MANIPULATOR OF SHEEP !!!!
Report Post »freedom_gurl35
Posted on July 29, 2011 at 10:25amObama’s going to say the same old thing:
1. It‘s the Republicans’ fault.
2. There must be “shared sacrifice” and “compromise”.
3. The US will never default, but if we do, it‘ll be the Republicans’ fault.
4. Some emotional nonsense about how he’s trying SO HARD to make a deal but the Repubs are being so stubborn! (And then he stomps his foot in protest…)
And so on. It’s a never-ending carousel ride.
Report Post »sWampy
Posted on July 29, 2011 at 10:25amGod I hate these progressives pretending to be conservative, the republicans should take the Reid plan, attach balance budget amendment to it, tell the senate pass that, and we will pass it. Go on the news, say there is 100% no reason to not pass balanced budget amendment since 3/4ths of the states would still have to pass it for it to become law. There is no way Obama can win in 2012 with BBA on state ballots, and no legitimate reason for him to not want the states to vote on it.
Report Post »Sicialian Eyeball
Posted on July 29, 2011 at 10:19amPlease put this loon in a straight jacket with a ball gag,and zonk him out with some thorozine.
Report Post »voxoffreedom
Posted on July 30, 2011 at 12:22amYou know Sicilian as frustrating as the obastard is you have to defeat him through elections. Look at the Secret Service. Everyone berates them for following up on every threat. But have you ever thought of what a nightmare it would be for the SS if they let someone get in to harm this clown? Not only would the service never live it down but there would be such an outcry of “RACISIM” leveled against the SS we’d never hear the end of it. Ultimately it would allow obastard to bring in the russians and chinese to defend him. Just give him a little rope, rein him in now and then then vote the bastard out. Oh…I’m a minority and may I suggest you never ever vote in a black until they are fully vetted….. I can just see the replies this will engender.
Report Post »Snowleopard {gallery of cat folks}
Posted on July 29, 2011 at 10:18amListen to the music playing from the telepromptor: “Tell me lies…tell me sweet little lies…”
Report Post »cessna152
Posted on July 29, 2011 at 10:11amWhy even bother watching? Here is a sneak peek at the entire speech
“I….I….I……me…..me…..me…. GOP is at fault…. From 2000 to 2008 we are still in a recovery…..I…..me…..me…..I averted a crisis….. GOP to blame for debt crisis….. I…..me…..I…..
Report Post »Anonymous T. Irrelevant
Posted on July 29, 2011 at 10:31amHey Obama, where is YOUR plan? Just sitting around waiting for other people to do work is not getting the job done and it’s all you seem to do. I don’t think the Republicans should present anymore plans until you come up with one. They don’t need to be trying to help you get re-elected.
Report Post »TruthSpeaker
Posted on July 29, 2011 at 10:41amdon’t forget, George Bush caused it.
Report Post »The Bear Story
Posted on July 29, 2011 at 10:10amAre We Americans? How many of you would be willing to give the government one days salary or the profit your company makes in one day to eliminate the nations debt, “in one day”. How much do you think a company like Apple can help out in one day. Please press like if you like this idea. Then just maybe we can back to our lives and America can get back to working the way it was designed to. By and for the people.
Report Post »bcwoodz
Posted on July 29, 2011 at 10:17amIt’s a SPENDING problem. If we paid the debt off tomorrow, and they still spend irresponsibly, we’d end up right back in the same situation.
Report Post »escape_from_socialism
Posted on July 29, 2011 at 10:23amIt’s not only spending problem, but also system of money supply. Without new loans money supply shrinks. We have to change the system and get rid of FED first.
Report Post »vennoye
Posted on July 29, 2011 at 10:41amescape_from_socialism
Report Post »We have to change the system and get rid of FED first.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
You are absolutely right…….but you know the only way that can happen is if it all goes down and we HAVE to reset. Lots and lots of power behind the FED, IMF and World Bank!! Don’t forget the UN cannot exist without the first three.
Miguelito
Posted on July 29, 2011 at 11:09amThat’s fine but who is going to stop the waste and spending?
Report Post »