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    Obama: Debt deal is only a first step

    AP – Tue, Aug 2, 2011
    WASHINGTON (AP) — President Barack Obama says the emergency bill Congress passed to prevent a government default is just the first step to ensuring the country lives within its means.

    Speaking in the Rose Garden, Obama says lawmakers still need to find a balanced approach to reducing the deficit that includes some adjustments to Medicare and reforming the tax code so the wealthy pay more.

    Obama spoke shortly after the Senate passed the bill to raise the debt ceiling and avert a potentially catastrophic default. The House approved the bill Monday.

    The White House says Obama will sign the bill as soon as it lands on his desk.

     

    665 comments

    • John C
      John C  •  9 mths ago
      A QUOTE FROM OBAMA IN 2006....... “The fact that we are here today to debate raising America ’s debt limit is a sign of leadership failure. It is a sign that the US Government can not pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Increasing America ’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”
      • Eddie Spaghetti
        Eddie Spaghetti 9 mths ago
        Nobody said he wasn't a liar.
      • Corsair
        Corsair 9 mths ago
        When you're done with that, you can post the quote from George W Bush about America following a "humbler foreign policy" -- before he launched preventive wars and showed contempt for any nation that didn't follow him.
      • Johnathan M
        Johnathan M 9 mths ago
        not Obama the Liar , say its not so ... I thought he was a lousy President with the rest of those washington morons....here my 2011 qoute ...ALL OF EM GOT TO GO IN 2012 , ALLLLLLL
    • John C
      John C  •  9 mths ago
      The very fact that we need to BORROW more just to pay interest on what we already owe is pretty close to a DEBT TRAP!
      • Pam
        Pam 9 mths ago
        And in other words, STUPID leadership decisions from the past that have lead to this mess. Too many people with narcissistic personality disorders in the positions of power have caused this crisis - these are so called "leaders" with psychiatric personality disorders who are basically destroying our country.
      • social-being
        social-being 9 mths ago
        John C,you are just talking about the present forgeting that this all started in the past. Inherited problems.
    • Ocean
      Ocean  •  9 mths ago
      Congress should be required to have the same health care as the rest of the country.... and they should NOT be having lifelong pensiorns after serving one term whilst our military are having their pensions get cut! Congress shall make no law that does not apply eqully to themselves as the rest of the country!
      • Corsair
        Corsair 9 mths ago
        "Congress should be required to have the same health care as the rest of the country"

        More mindless rhetoric. The rest of the country doesn't have one kind of health care. It has thousands of kinds. Congress has the same as other federal employees.
      • Alison
        Alison 9 mths ago
        Congress shouldn't receive a pension, they should be cut from spending, government workers should only receive social security like the rest of us. No company offers pensions to it's workers. Why should the American people pay for government pensions when they themselves do not receive one.
      • REPEAL OBAMA 2102!
        REPEAL OBAMA 2102! 9 mths ago
        "Congress should be required to have the same health care as the rest of the country.... and they should NOT be having lifelong pensiorns after serving one term whilst our military are having their pensions get cut! "

        Ditto the president. Why should Michelle Obama be putting on her $535 sneakers, and packig her designer clothes to go on $15 million dollar vacations at the expense of taxpayers while millions of people are losing their jobs and her husband is on TV every day talking about how evil "rich" people are?
    • Anonymous
      Anonymous  •  9 mths ago
      So, where are the jobs?
      • A Yahoo! User 9 mths ago
        You have to at least admit you are wrong before you can steer the country in a better direction. Obama = Dubba-Bush
      • Mike
        Mike 9 mths ago
        Congress has been too busy focusing on the GOP agenda like making the debt ceiling a political show down and defunding planned parenthood and NPR. They have decided that although they took power on a platform of jobs, they really have no ideas to address the situation and choose to engage in smoke and mirrors instead.
      • gk890
        gk890 9 mths ago
        The reality is that the JOBS are gone and are not coming back. Labor is cheaper everywhere but America, it's as simple as that: Cheap Labor Abroad.
    • John C
      John C  •  9 mths ago
      "America we mean well for you so we are going to bury you in debt." That kind of logic can only come from self-serving politicians.
      • Lisa
        Lisa 9 mths ago
        Yes and that is because of the loopholes & tax breaks that the filthy rich reflublicans & tea party members are receiving. Those breaks were given for those same people to create jobs in America FOR Americans! The rest of us are being ignored while the fat cats get fatter & blame us!..
    • John C
      John C  •  9 mths ago
      If you truly mean well for this great nation how can you turn a blind eye to the fact that it is headed towards a DEBT TRAP?
    • SS-N-19 Shipwreck
      SS-N-19 Shipwreck  •  9 mths ago
      Now whats next: JOBS
    • Harry Baals
      Harry Baals  •  9 mths ago
      I’ll see you guys later
      I’m going to go find one of those shovel ready jobs.
    • Harry Baals
      Harry Baals  •  9 mths ago
      Obama ‘s campaign slogan

      I need four more years because I did nothing the first four except create less jobs and more debt.
    • Brandon
      Brandon  •  9 mths ago
      I just hope all our money-grubbing politicians realize that if the economy collapses, THEIR money will be just as worthless as ours.
    • Ron
      Ron  •  9 mths ago
      Cut the congressional payroll in half and put the congress on Social Security and Medicare and the problems of the budget disappear. Ronald Popernik
    • impeachthemuslim
      impeachthemuslim  •  9 mths ago
      He's piled on almost $4 trillion and he's lecturing on living within our means. This idiot couldn't run a lemonade stand. What a hack!
    • Brad
      Brad  •  9 mths ago
      "Speaking in the Rose Garden, Obama says lawmakers still need to find a balanced approach to reducing the deficit...." NO! We NEED an approach to ELIMINATE the deficit, and PAY OFF DEBT!!!! These people STILL don't get it! The first step in a "balanced" approach is a balanced B-U-D-G-E-T...........
    • AstroTurf
      AstroTurf  •  9 mths ago
      A flat tax is the only "balanced approach" that's fair. Anything else is just a redistribution of wealth (which is a nice way to say communism).
    • Fighting Communism Again
      Fighting Communism Again  •  9 mths ago
      The laws of economics cannot be rewritten with legislation.

      Look at the price of gold.
    • billn
      billn  •  9 mths ago
      I still feel very nervous after the pass of the bill. Why did they do it at the last minute?

      because they all go on vacation next week.
    • Harry Baals
      Harry Baals  •  9 mths ago
      Hey Democrats when you’re done blaming Bush, ask
      Chris Dodd, Barney Frank, Harry Reid and Nancy Pelosi what they have been doing for the last ten years? If they have nothing to do with the economies performance then they should be fired for not doing their job.
    • mike m
      mike m  •  9 mths ago
      Time for a flat tax so the 50% who don't pay taxes will be contributing something. We also need a mandatory drug test for anyone receiving Government assistance and be denied if tested positive or not in rehab!!!!
    • Frank
      Frank  •  9 mths ago
      What a crock.. do not let this bait and switch #$%$ pull the wool over your eyes America. He misdirects, tries to grab credit and is still giving the US away to the illegals. This man will sink us all! He is a traitor to the American people. In 2012, NObama NOmore!!
    • Harry Baals
      Harry Baals  •  9 mths ago
      It’s OK for Harry Reid’s aide (one aide) to get paid $1.2 million from Comcast Corp alone while they lay off employees. It’s OK for Obama to make $5.5 Million in 2009.
      But it’s always the greedy Republicans,
      Right Democrats?
     Post a comment
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