President Barack Obama said Friday that Democrats and Republicans are not far apart on an agreement to raise the debt ceiling, but they must forge a compromise that can survive votes in both the House and the Senate.
“There are plenty of ways out of this mess, but we are almost out of time,” he said from the Diplomatic Reception Room of the White House.
“Keep in mind, this is not a situation where the two parties are miles apart,” Obama said in his first public remarks since his primetime speech on Monday. “We’re in rough agreement about how much spending can be cut responsibly as a first step toward reducing our deficit. We agree on a process where the next step is a debate in the coming months on tax reform and entitlement reform, and I’m ready and willing to have that debate.”
As he did during Monday’s speech, the president again urged Americans to “keep it up” and continue writing and calling members of Congress to express their desire for compromise. “If you want to see a bipartisan compromise, a bill that could pass both houses of Congress and that I can sign, let your members of Congress know. Make a phone call, send an email, tweet.”
The bill put forward by House Speaker John Boehner (R-Ohio) “does not solve the problem and … has no chance of becoming law,” Obama said, as he urged bipartisan compromise.
The bill that passes must have widespread support, and not just that of “one faction,” the president said, referring to the bloc of freshman and tea party-affiliated House Republicans who have been reluctant to agree to any deal to raise the debt ceiling that has the potential to pass the Senate.
“The time for putting party first is over,” he added. “The time for compromise on behalf of the American people is now.”
The president’s statement came minutes after Senate Majority Leader Harry Reid (D-Nev.) announced plans to move forward on his own bill to raise the debt ceiling, which is “the last train out of the station.”
Reid also said he had a “very sobering conversation” with Geithner earlier Friday about the difficulties that businesses face amid uncertainty about the debt ceiling. “A short-term extension is not what we need,” he said.
Commerce Secretary Gary Locke tied the uncertainty that businesses face to the disappointing growth in the gross domestic product.
“Today’s first look at GDP in the second quarter confirms what we already knew: The economy isn’t growing as fast as it needs to. And every day that we fail to act to lift the debt ceiling and inch closer to default, we threaten our economic progress and job creation,” Locke said.
“Experts have repeatedly warned that if this uncertainty continues, our economy will pay the price. We can’t afford to return to the same failed policies that brought us here. We must build on the progress we’ve made over the last two years and reach a balanced compromise that will reduce our debt and at the same time strengthen our job-creating ability and global competitiveness for the future,” he added.
By JENNIFER EPSTEIN |
Źródło: politico.com 29th July 2011