Debt Ceiling Crisis continues as two plans are proposed

The United States Capital Building

Washington D.C.- President Barack Obama took to the airwaves to discuss the ongoing debt ceiling crisis this evening. Obama’s speech came hours after Republicans and Democrats drafted two different sets of legislation that would avoid a government default.

Obama was quick to scold Republicans for not willing to accept the deal he had endorsed. Obama said that the Republicans stop gap plan to temporarily raise the debt ceiling in exchange for spending cuts was not the proper way to go. “In other words, it doesn’t solve the problem,” Obama said.

Obama continued on to say, “We know what we have to do to reduce our deficits; there’s no point in putting the economy at risk by kicking the can further down the road.” He also cited previous administrations attempts to raise the debt ceiling. “In the past, raising the debt ceiling was routine. Since the 1950s, Congress has always passed it, and every President has signed it. President Reagan did it 18 times. George W. Bush did it 7 times. And we have to do it by next Tuesday, August 2nd, or else we won’t be able to pay all of our bills,” Obama said.

In addition to his calls for compromise, Obama urged citizens to contact their Representatives in Congress. “The American people may have voted for divided government, but they didn’t vote for a dysfunctional government. So I’m asking you all to make your voice heard. If you want a balanced approach to reducing the deficit, let your Member of Congress know. If you believe we can solve this problem through compromise, send that message.”

After Obama’s speech, Speaker John Boehner spoke to rebut the President’s remarks. Boehner spoke about his talks with the President and how they tried to work towards an agreement. “I want you to know I made a sincere effort to work with the president to identify a path forward that would implement the principles of Cut, Cap, & Balance in a manner that could secure bipartisan support and be signed into law. I gave it my all. Unfortunately, the president would not take yes for an answer. Even when we thought we might be close on an agreement, the president’s demands changed,” Boehner said.

Boehner also said “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.”

The White House

Boehner said that “there is no stalemate in Congress. The House has passed a bill to raise the debt limit with bipartisan support.” He continued on to say “And this week, while the Senate is struggling to pass a bill filled with phony accounting and Washington gimmicks, we will pass another bill – one that was developed with the support of the bipartisan leadership of the U.S. Senate.”

Boehner expressed his optimism that that bill will pass the House and Senate and be sent to the President for his approval. “Obviously, I expect that bill can and will pass the Senate, and be sent to the President for his signature. If the President signs it, the ‘crisis’ atmosphere he has created will simply disappear. The debt limit will be raised. Spending will be cut by more than one trillion dollars, and a serious, bipartisan committee of the Congress will begin the hard but necessary work of dealing with the tough challenges our nation faces,” he said.

Boehner closed his response with these words, “We are up to the task, and I hope President Obama will join us in this work.”