We always want to keep our readers up to date, so we have provided a link to the White House live stream below if you would like to watch the debt ceiling talks.
President Obama’s talks have been streamed before and more followers log on to watch as every day we get closer and closer to the August 2 do-or-die date for raising the debt ceiling. And although we are dangerously close to that date, we couldn’t be farther from a solution — or so it seems. There has been some speculation as to what exactly the president plans to discuss in today’s speech originally set to start at 10:20 AM EDT.
Late last night, stubborn House Republicans forced Speaker of the House John Boehner to delay the vote on legislation to raise the country’s borrowing limit, illustrating that neither the Speaker nor the President is able garner enough votes to support their respective policies. The Boehner bill proposed to cut some $917 billion in spending, raise the debt limit by a comparative $900 billion, and require Congress to increase the limit again early next year.
However, it lacked a balanced-budget amendment, which is a key demand of the Tea Party-backed Republicans.
“It’s extremely disappointing that the House of Representatives was unable to work together in a bipartisan way to avoid default,’’ Massachusetts Senator Scott Brown (Republican) said in a statement. “Frankly, this is pathetic. The American people deserve better. I call upon my colleagues on both sides of the aisle to rise above partisanship. The time to act is now.’’
Check out the live stream video below to catch the President discuss the status of the Debt Ceiling negotiations:
Update: President Barack Obama continues to reiterate the impending debt ceiling deadline as lawmakers struggle to come to an agreeable budget bill. “What’s clear now is that any solution to avoid default must be bipartisan,” said Obama. “It must have the support of both parties that were sent here to represent the American people – not just one faction.” To speed up the process, Obama urges the American people to voice their concerns to their Congressman by phone, through email, and on Twitter.
MyBankTracker.com has been following the Debt Ceiling Debate since day one. For a summary of Obama’s previous speech check out our story, Obama vs. Boehner: Everyone Loses and to read an overall introduction to the issue see Congress Procrastinates with the Debt Ceiling.