Barack Obama – President Obama’s Message On The Debt Agreement

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[Barack Hussein Obama II(born August 4, 1961)] Source: LYBIO.net
I know many of you have been watching the standoff in Washington these past few weeks over the national debt. It’s been a tense debate because the stakes were so high. A default on our debt would have been a devastating blow to our economy at a time we can least afford it. It would have meant higher borrowing costs, higher prices, and put millions more jobs in jeopardy. That’s why so many of you wrote, called, emailed and Tweeted members of Congress, to urge a responsible resolution to this crisis. And I want to thank you for that. The pressure you put on Washington is one of the reasons we’ve finally reached a resolution in the only way we could – through an agreement between both parties. It’s an agreement that averts an unthinkable default, as well as the prospect of another standoff just like it months from now – something that would have kept a cloud of uncertainty hanging over our economy. It’s an agreement that also offers meaningful deficit reduction by trimming $1 trillion in spending over the next decade. But I have said from the beginning that the ultimate solution must be balanced. Big corporations and the wealthiest Americans shouldn’t be exempt from kicking in. That’s just fair.

[Barack Hussein Obama II] Source: LYBIO.net
I also believe we need to make modest adjustments to health care programs like Medicare, so that they’re around for future generations. That’s why the second part of this agreement is so important. It establishes a bi-partisan committee of Congress to report back by November with a proposal to reduce the deficit even further, which will be put before the entire Congress for an up or down vote. No tricks. No games. No delays. This has been a long and messy process. And as with any compromise, the outcome is far from satisfying. But it has also launched an important debate about how we approach the big challenges we face. About how we rebuild our economy to create greater opportunity. And about whether we tackle our challenges by drawing on our best values, as one country, everyone pitching in; everyone playing by the same rules. This chapter is over. But that work – and that debate – continues. It’s a debate for the strong, hopeful America that brought you and me together from the start. And I hope you’ll continue to lend your voice to that debate in the months to come. Thanks so much.

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