President Obama held a brief news conference this morning to tell the American people “There are plenty of ways out of this mess.” The President said that the world has faced many disasters it can’t predict or control like terrorist attacks, hurricanes, tornados, earth quakes, but this crisis is man-made and can be fixed by a simple vote.
He urged the American people to let their member of Congress know what they want done to solve the problem. “If you want a bipartisan solution that passes both Houses and I can sign,” Obama said, “then make a phone call, send an e-mail, tweet. Keep the pressure on Washington.”
Obama said there are plans before Congress that both parties can accept and he can sign
The President said that the House of Representatives is still trying to pass a bill [the Boehner bill] that the majority of the Senate said they won’t vote for and he won’t sign. He said this does not solve the problem; it has no chance of becoming law. He went on, “Any solution to avoid default must be bi-partisan. It must have the support of both parties who were sent here to represent the American people, not just one faction.”
He said there are ways out of this problem. “Senator Reid, a Democrat has introduced a bill with cuts previously agreed to by both parties. Senator McConnell, a Republican offered a solution that could get us through this.” He added, “There are plenty of modifications we can make to either of these to get them through the House and Senate and would allow me to sign into law.”
“The parties are not miles apart. There are plenty of ways out of this mess, but we are almost out of time,” he said. “If we don’t come to an agreement, we run the risk of losing our AAA credit rating.” He reminded those that oppose a tax increase on some Americans [the wealthy]; we will put a tax increase on all Americans in the form of higher interest due to default.
Obama said with emphasis, “Raising the debt ceiling does not authorize Congress to spend more money; it only authorizes us to pay the bills Congress has racked up.” The time for compromise for the American people is now.
Meanwhile, economic news worsens
The stock market fell again yesterday, and is trading lower today as are markets in Asia. World leaders are calling to express their concerns about what damage a default here will do to their economies as well. The Gross Domestic Product (GDP) grew at a very slow rate of 1.2% due to the uncertainty this Congressional inaction is causing. The FAA has already laid off 4,000 federal employees and halted airport construction in almost all 50 states casing construction workers to also lose their jobs.
Perhaps the people will hear the President and pressure their elected representatives to act like to solve this before Tuesday in a bi-partisan way. Perhaps they will ask, and Congress will ignore them. Congress has been ignoring the people on this issue since January. Every poll shows a majority of Americans want a balanced approach to reducing the debt including closing tax loopholes and raising taxes on the wealthy along with budget cuts. A majority of Americans in both parties are against cuts to Social Security and Medicare.
All Americans want Congress to be creating jobs, not embarrassing the United States in front of the whole world with this nonsense. It makes us look as petty as when Republicans tried unsuccessfully to impeach the last Democrat President over something that dozens of Members of Congress have been guilty of, and continue to be guilty of to this day.
If you like this article, follow me on Facebook, or click the white button with orange letters “Subscribe” next to my picture (above) for a free, anonymous subscription to this news column!
Feel free to leave a comment below. Dissenting views are fine, but trolling and profanity will not be tolerated.