26 Jul 2011


President Barack Obama gave an address on live television earlier tonight regarding the ongoing debt ceiling debate. Here is the full video footage:
Selected Obama Quotes:
“Unfortunately, for the past several weeks, Republican House members have essentially said that the only way they’ll vote to prevent America’s first-ever default is if the rest of us agree to their deep, spending cuts-only approach. ”
“If that happens, and we default, we would not have enough money to pay all of our bills – bills that include monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses.”
“Defaulting on our obligations is a reckless and irresponsible outcome to this debate. And Republican leaders say that they agree we must avoid default. But the new approach that Speaker Boehner unveiled today, which would temporarily extend the debt ceiling in exchange for spending cuts, would force us to once again face the threat of default just six months from now. In other words, it doesn’t solve the problem.”
These present quotes are a stark contrast to Obama’s past statements on the debt ceiling crisis faced under President Bush:
Obama, 2006, Senate Floor Speech:
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. …Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
Boehner’s Resposne
House Speaker John Boehner also addressed the nation tonight, offering the Republican’s leadership’s viewpoint:
Selected Boehner quotes:
“The president is adamant that we cannot make fundamental changes to our entitlement programs. As the father of two daughters, I know these programs won’t be there for them and their kids unless significant action is taken now.”
“The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen.”
South Carolina Senator Jim Demint reacts to the President’s Address and John Boehner’s follow up.
See the full video interview with Fox News’ Greta Van Susteren:

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