On this weekly radio address to the nation, President Obama urged both Republicans and Democrats to take action to avoid defaulting for the first time in our nation’s history. While the two parties are not far apart in their goals, they must resolve their differences quickly so that the United States can continue paying its Social Security checks, veterans’ benefits, and contracts with thousands of American businesses.
“Today, I’d like to speak with you about the ongoing and urgent efforts to avoid a first-ever default and get our fiscal house in order.
Republicans in the House of Representatives just spent precious days trying to pass a plan that a majority of Republicans and Democrats in the Senate had already said they wouldn’t vote for. It’s a plan that wouldn’t solve our fiscal problems, but would force us to re-live this crisis in just a few short months. It would hold our economy captive to Washington politics once again. If anything, the past few weeks have demonstrated that’s unacceptable.
Any solution to avoid default must be bipartisan. It must have the support of both parties that were sent here to represent the American people – not just one faction of one party. There are multiple ways to resolve this problem. Congress must find common ground on a plan that can get support from both parties in the House. And it’s got to be a plan that I can sign by Tuesday.