News / USA

    Obama: Lawmakers Need to Do Right Thing on Debt

    U.S. President Barack Obama looks up during a meeting with Congressional leaders in the Cabinet Room to discuss ongoing efforts to find a balanced approach to deficit reduction at the White House, July 11, 2011
    U.S. President Barack Obama looks up during a meeting with Congressional leaders in the Cabinet Room to discuss ongoing efforts to find a balanced approach to deficit reduction at the White House, July 11, 2011

    President Barack Obama says congressional leaders from both political parties need to do the right thing and work with him to achieve the largest possible compromise to cut deficit spending and raise the national debt limit. Mr. Obama used a news conference to step up pressure on lawmakers before another White House negotiating session.

    Saying he will meet with key congressional leaders every single day until the deficit and debt issue is resolved, President Barack Obama said all continue to believe that it would be unacceptable not to raise the $14.3 trillion debt ceiling, adding that a lot of work remains.

    Related report by Laurel Bowman:


    Mr. Obama used the news conference to send this message to Republicans.

    "I have been hearing from my Republican friends for quite some time that it is a moral imperative for us to tackle our debts and deficits in a serious ways," said the president. "I have been hearing from them that this is one of the things that is creating uncertainty and holding back investment on the part of the business community. And so, what I said to them is let's go."

    He also acknowledged the opposition from his Democratic party to considering or including any radical changes to so-called "entitlement" programs, such as Medicare, Medicaid and Social Security.

    "I am prepared to take on significant heat from my party to get something done, and I expect the other side should be willing to do the same thing, if they mean what they say, that this is important," said Obama.

    The president confirmed he and Republican House Speaker John Boehner had been aiming for the biggest possible package that would have resolved the debt and deficit challenge for a longer time. But Boehner gave up on efforts to achieve the bigger deal involving as much as $4 trillion in combined spending cuts and revenue raisers.   

    On Capitol Hill before he left for more talks at the White House, Boehner indicated that what he called the "gulf" on the debt and deficit issues remains wide.

    "The president continues to insist on raising taxes and they are just now serious enough about fundamental entitlement reform to solve the problem for the near and intermediate future," said Boehner.

    Boehner said he agrees with the president that the United States can not be allowed to default on its debt. But he noted that Congress must approve any bill to prevent a default, and he said current proposals would not pass the House.

    Mr. Obama made clear he will continue to push for the largest possible deal, saying it could result in manageable deficits and stabilized debt levels that would benefit the economy.   

    "The things that I will not consider are a 30 day, or a 60 day, or a 90 day, or a 180 day temporary stop gap resolution to this problem," the president said. "This is the United States of America, and we do not manage our affairs in three month increments. We do not risk U.S. default on our obligations because we can't put politics aside."

    Mr. Obama said the job of fixing the fiscal mess would only get harder in six months when campaigning picks up for the 2012 presidential and congressional elections. He said compromise will be required on all sides.

    You May Like

    Top US General: Turkish Media Report ‘Absurd'

    General Dunford rejects ‘irresponsible' claims of coup involvement by former four-star Army General Campbell, who led NATO forces in Afghanistan before retiring earlier this year

    Video Saving Ethiopian Children Thought to Be Cursed

    'Omo Child' looks at efforts of one African man to stop killings of ‘mingi’ children

    Protests Over Western Troops Threaten Libyan 'Unity' Government

    Fears mount that Islamist foes of ‘unity' government plan to declare a revolutionaries' council in Tripoli

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    London’s Financial Crown at Risk as Rivals Eye Brexit Opportunitiesi
    X
    VOA News
    July 25, 2016 5:09 PM
    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.
    Video

    Video In State of Emergency, Turkey’s Erdogan Focuses on Spiritual Movement

    The state of emergency that Turkish President Recep Tayyip Erdogan has declared is giving him even more power to expand a purge that has seen an estimated 60,000 people either arrested or suspended from their jobs. VOA Europe correspondent Luis Ramirez reports from Istanbul.
    Video

    Video Calm the Waters: US Doubles Down Diplomatic Efforts in ASEAN Meetings

    The United States is redoubling diplomatic efforts and looking to upcoming regional meetings to calm the waters after an international tribunal invalidated the legal basis of Beijing's extensive claims in the South China Sea. VOA State Department correspondent Nike Ching has the story.
    Video

    Video Four Brother Goats Arrive in Brooklyn on a Mission

    While it's unusual to see farm animals in cities, it's become familiar for residents of Brooklyn, New York, to see a little herd of goats. Unlike gas-powered mowing equipment, goats remove invasive weeds quietly and without adding more pollution to the air. As Faiza Elmasry tells us, this is a pilot program and if it proves to be successful, the goat gardener program will be extended to other areas of New York. Faith Lapidus narrates.
    Video

    Video Scientists in Poland Race to Save Honeybees

    Honeybees are in danger worldwide. Causes of what's known as colony collapse disorder range from pesticides and loss of habitat to infections. But scientists in Poland say they are on track to finding a cure for one of the diseases. VOA’s George Putic reports.
    Video

    Video Wall Already Runs Along Parts of US-Mexico Border

    The Republican Party’s presidential nominee, Donald Trump, gained the support of many voters by saying he would build a wall to keep undocumented immigrants and drugs from coming across the border from Mexico. Critics have called his idea impractical and offensive to Mexico, while supporters say such a bold approach is needed to control the border. VOA’s Greg Flakus has more from the border town of Nogales, Arizona.
    Video

    Video New HIV Tests Emphasize Rapid Results

    As the global fight against AIDS intensifies, activists have placed increasing importance on getting people to know their HIV status. Some companies are developing new HIV testing methods designed to be quick, easy and accurate. Thuso Khumalo looks at the latest methods, presented at the International AIDS conference in Durban, South Africa.
    Video

    Video African Youth with HIV Urge More Support

    HIV, the virus that causes AIDS, is the top killer of teens in sub-Saharan Africa. But many youths say their experience with the virus is unique and needs to be addressed differently than the adult epidemic. VOA South African Correspondent Anita Powell reports.
    Video

    Video Pop-Up Art Comes to Your Living Room, Backyard and Elsewhere

    Around the world, independent artists and musicians wrestle with a common problem: where to exhibit or perform? Traditional spaces such as museums and galleries are reserved for bigger names, and renting a space is not feasible for many. Enter ArtsUp, which connects artists with venue owners. Whether it’s a living room, restaurant, office or even a boat, pop-up events are bringing music and art to unexpected places. Tina Trinh has more.
    Video

    Video Scotland’s Booming Whisky Industry Fears Brexit Hangover

    After Britain’s vote to leave the European Union, Scotland’s government wants to break away from the United Kingdom – fearing the nation’s exports are at risk. Among the biggest of these is whisky. Henry Ridgwell reports on a time of turmoil for those involved in the ancient art of distilling Scotland’s most famous product.

    Special Report

    Adrift The Invisible African Diaspora