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Politics

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Obama Urges Action On Debt Ceiling

January 5th, 2013 12:33 pm Associated Press

HONOLULU (AP) — President Barack Obama is hailing a last-minute deal that avoids the so-called fiscal cliff but says it’s just one step in a broader effort to boost the economy and shrink federal deficits.

Obama said in his radio and Internet address Saturday that the new law — approved by Congress on New Year’s Day and signed Thursday — raises taxes on the wealthiest Americans while preventing a middle-class tax hike that could have thrown the economy back into recession.

With the “fiscal cliff” crisis barely over, Obama faces new battles in Congress over raising the country’s $16.4 trillion borrowing limit, as well as more than $100 billion in automatic spending cuts for the military and domestic programs which were delayed by two months under the compromise.

Lawmakers promise to replace those across-the-board cuts with more targeted steps that could take longer to implement.

Obama — speaking from Hawaii, where he is on vacation with his family — said he is willing to consider more spending cuts and tax increases to reduce the deficit.

But he said he “will not compromise” over his insistence that Congress lift the federal debt ceiling. The nation’s credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling, in 2011.

“Our families and our businesses cannot afford that dangerous game again,” Obama said.

If elected officials from both parties “focus on the interests of our country above the interests of party, I’m convinced we can cut spending and raise revenue in a manner that reduces our deficit and protects the middle class,” Obama said.

In the Republican address, Rep. Dave Camp of Michigan said that as attention again turns to the debt limit, “we must identify responsible ways to tackle Washington’s wasteful spending.”

Americans know that “when you have no more money in your account and your credit cards are maxed out, then the spending must stop,” Camp said.

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Online:

Obama address:

GOP address:



  • charleo1

    As we are aware, America has enemies. And, lest we forget, we are reminded every time we
    board a plane, or return home from a foreign country, Or as of late, we need Congress to act
    to lift the debt ceiling, So Bills that Congress has already passed, and signed into law.
    Having already spent by law, must by law, be repaid. And I don’t care how Mitch McConnell
    characterizes it. Or how many times they claim it would be giving Barack Obama a new credit
    card. Republicans are just flat out lying about it. However, if it’s a credit card metaphor
    you want. Try calling your card company, CitiCorp, Wells Fargo. And tell them you want your
    interest rates lowered, and furthermore, you are not paying them a cent unless that happens.
    Go ahead, see what Chase Bank, would say? Golly, Mr. Doe, looks like you’ve really got us
    over the old barrel this time! What interest rate would you prefer? Seriously, if someone had
    came up to me five years ago, and said there is going to be elected into Congress a coalition
    of politicians so fanatical, and so extreme, they will actually threaten the U.S. from their
    Congressional seats,if their demands are not followed to the letter. I would have laughed in their face. And, thought, not here. Maybe in some backwater, somewhere. But, us, here? Never.
    There is something about this T-Party that is unseemly, and undignified. Well, okay, there’s
    a lot about this T-Party, that is extremely, unseemly, and undignified, and difficult to believe.
    Because how could one threaten the Country in such a way in one breath, and pledge fidelity
    to it the next? No, I can’t abide by tactics. But I can surely guarantee, if the same threats the
    T-Party is making, came from another Country, or government, we would most likely go to war.

  • Budjob

    Just do it President Obama>>Invoke the 14th amendment and get it the fuck over!!

  • Budjob

    Why is Obama insisting he will compromise on spending cuts?If he follows through with this “compromise” it surely would involve medicare,social security,and medicaid. conversely,this would impact the re-election aspirations of a lot of DEMOCRATS!Are you paying attention democrats?I see a strong third party evolving in the wake of all of this diatribe and posturing!!IT has to happen!!

  • mariancruz

    I would go with Rep. Nancy Pelosi’s plan.

  • bchrista

    I made the statement once before if the President has the power to over the Congress and the Senate then FUCK them he’s got over 50% of the people behind so I say go for it Mr President and while your at it lest figure some law to throw them bastards out for being treasonist assholes in trying to undermine the country, it’s either that or we might as well sit back and say we surrender because we don’t have the balls to confront you, you win, however, I think we are stronger than that so, lets show those Teaparty and other Republican bastards that we voted them and we are the Boss and if they don’t heed our warning then we start using what ever it takes to throw them out even if it takes physical force, we are still, WE THE PEOPLE, and the Constitution of the United States gives us that power. The National Guard and the Military Services belong to us so, just umpower the President to use all that power and remove them fuckers until such time as they agree to start doing what’s right according to 51% of the People the majority rules and no exceptions. Otherwise, they will keep votng for the Red States and rejecting assistence to the Biue States and keep dividing our country. Our founding fathers made it clear ONE COUNTRY UNDER GOD, UNDIVIDED WITH LIBERTY AND JUSTICE FOR ALL.