Washington – Obama: Default Would Be Reckless, Irresponsible (video)

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    President Barack Obama addresses the nation from the East Room of the White House in Washington, Monday, July 25, 2011, on the approaching debt limit deadline. (AP Photo/Jim Watson, Pool)Washington – President Barack Obama says the only ones standing in the way of a balanced compromise to the nation’s debt crisis are those Republicans in Congress who are insisting only on spending cuts.

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    Appealing to the nation in a televised address Monday night, Obama said the nation is growing dangerously close to default. He warned that would be what he called a “reckless and irresponsible” outcome to the debate.

    The nation will run out of ability to borrow money and pay its existing bills after Aug. 2 if a deal is not reached by then to extend the nation’s debt limit.

    Republicans and Democrats have put forth competing last-minute deals. It is unclear how or whether a compromise will happen.

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    26 Comments
    Most Voted
    Newest Oldest
    15 years ago

    a “nar’ zugt oich amul a git vort. for the very first time, I can’t agree more with him!

    GOP2012
    GOP2012
    15 years ago

    Its Obama fault he’s radical liberal agenda is sabotaging the economy.

    chosen-nation
    chosen-nation
    15 years ago

    Republicans only agree on spending cuts….well duh, is that a problam?!? we don’t have any money.

    Mark Levin
    Mark Levin
    15 years ago

    And spending like you did wasn’t???? Sorry President Crybaby but your game is up!

    BTW I hope you reimburse the networks for the airtime you used for your campaign speech.

    UseYourHead
    UseYourHead
    15 years ago

    Tax cuts are not an increase in spending. They are a decrease in revenues. Somebody get this man a high school education.

    volfie
    volfie
    15 years ago

    let it all crash ! no more welfare;no more food stamps/benefit cards; no more medicare/medicaid;no more ambulettes; no more section 8; no more free a/c;free shoes ;free prescriptions, no more free abortions; no more subsidized cell phones;
    no more free nebulizers;no more computerized wheel chairs; no more free pollen-free pillows; no more after school baby sitting programs for parents who don’t take responsibility for their own children;no more do nothing home-attendants; no more
    hundreds of “programs” which the public is unaware of ; no more foreign “aid”; no more Iraq, no more Afghanistan ;no more Libya;no more Pakistan; and finally no more Obama who represents the last act of the naive and corrupt liberalism started by FDR,increased by Johnson’s great fools society,and brought down by Obamacare and redistribution of the wealth of the working and business class.
    the morning after, the air will be clear from the stench of liberalism and will be crisp offering a new start with this one underlying fair and moral principle – those who pay -can play ! The death of the american welfare state will give america new life !!!!

    Mikey
    Mikey
    15 years ago

    The republicans theory regarding less taxes will create more jobs has been historically proven and continues to hold true. Look in any paper and you will see literally hundreds, if not thousands, of jobs every week. When I ask others why they cant fill the positions they say that the response they get from candidates is that it doesn’t pay to get off of unemployment or social services without getting more money. Problem is that because of taxes they can’t afford to pay more. I had the same when looking to hire a few weeks ago. My company cannot afford to pay more than x amount of dollars an every candidate I interviewed said it wasn’t worth leaving unemployment for it. I did hire two people, both inexperienced and never had a job. For them it was worth it. If my company wouldn’t have to pay everything that is required by the gov, we could have hired two experienced people or three inexperienced people…

    mikeetg
    mikeetg
    15 years ago

    If you learnt anything about speechwriting methods its quite entertaining.
    One of the key methods is to make it a ‘They’ as opposed to ‘Us’ – the majority and also mentioning the trouble as if it is ‘they’s’ fault by placing them together.

    15 years ago

    I’m dumping all of my stocks and mutual funds first thing when the market opens.

    pbalaw
    pbalaw
    15 years ago

    Where where u mr president last election, the country wants this

    PMOinFL
    PMOinFL
    15 years ago

    Blah blah blah…. more lies from Obama and Boeher and STILL nothing gets done.

    A pox on both your houses. You care about nothing but getting re-elected.

    The best thing Obama and Boehner could sign this month is their resignations.

    A Conservative revolution based on facts and intellectualism, the way William F. Buckley envisioned it, is the only hope we have. But as long as people really believe what MSNBC, NPR, Fox News, and people like Rush Limbaugh tell them, we can NEVER get there. You may as well believe that what happens on Star Trek is true as well. They are equally factual.

    Buckley was afraid of the “cult of personality” and now, that’s all we have. Personalities with no substance and devoid of intellectual honesty have gripped our political system. The stupid and the ignorant on the left and right worship at their altars like mindless sheep.

    What a sad time to live in America.

    15 years ago

    Obama is playing for the other team

    pbalaw
    pbalaw
    15 years ago

    To all the 6 bashers— u just don’t get it. Cut everything doesn’t mean old/disabled die. All it means is the GOV is out of it. Once that happ. No mote waist. Then communities private org Shuls churches take care if the truly needy in a way that will cost a fraction , just bec someone doesn’t want to be taxed to death by the gov doesn’t mean he won’t help privatly, especially if he has more money in his pocket from what he earned

    dududu
    dududu
    15 years ago

    for all you full grown dodos that say “well, what about Israel”
    just so you should know the united states has a different way of dealing with iIsrael. the US does NOT give us money they only give Israel credit to buy what they approve from their companies. the united states does not lose a penny giving money to Israel unlike the other countries they support

    Dave the Mave will Rant and Rave and will enslave the brave who behave like a depraved slave.

    kollelfaker
    kollelfaker
    15 years ago

    how can we default when we receive more income on a monthly then we owe in interest interest on debt will be paid social security will be paid and yes the military will be paid as will all accentual services the only person to benefit from a shut done is the president so he can complete his socialist agenda

    kollelfaker
    kollelfaker
    15 years ago

    why hasnt our president complained before about no federal budget in place since he entered office over 800 days now he is concerned he brought this up now to cause a riot like health care. sorry it wont work