This morning, President Obama spoke on the status of the debt ceiling negotiations from the Diplomatic Reception Room at the White House. The President urged Republicans and Democrats in Congress to find a bipartisan solution to avoid default that he can sign by Tuesday. Though we are almost out of time, the President made it clear that there are multiple ways to resolve this problem:
Now, keep in mind, this is not a situation where the two parties are miles apart. We’re in rough agreement about how much spending can be cut responsibly as a first step toward reducing our deficit. We agree on a process where the next step is a debate in the coming months on tax reform and entitlement reform –- and I’m ready and willing to have that debate. And if we need to put in place some kind of enforcement mechanism to hold us all accountable for making these reforms, I’ll support that too if it’s done in a smart and balanced way.
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