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    July 16, 2011

Obama, Republicans Still Wrangling Over Debt Solution

   VOA News
   US President Barack Obama (C) conducts a meeting with congressional
   leadership on deficit reduction in the Cabinet Room of the White House
   in Washington, July 13, 2011
   Photo: Reuters
   US President Barack Obama (C) conducts a meeting with congressional
   leadership on deficit reduction in the Cabinet Room of the White House
   in Washington, July 13, 2011

   U.S. President Barack Obama and opposition Republicans have called on
   each other to offer "serious" plans to solve the nation's financial
   problems.

   The two sides appear far from agreement, and face an August 2 deadline
   to raise the $14.3-trillion legal limit on the amount of money
   Washington can legally borrow.

   During his weekly address on Saturday, Obama challenged Congress to
   share what he called his willingness to compromise in solving the debt
   problem. He said any solution should be a shared sacrifice.
   ^Watch President Obama's weekly address:

   IFRAME: [1]http://www.youtube.com/embed/9GkKDhkM-hw

   Earlier, Obama said he is willing to consider cuts in popular social
   programs, including pensions and health care for the elderly, and aid
   to veterans. In return, the president wants Republicans to vote for
   higher taxes on wealthy Americans and large corporations.

   In the Republican weekly address, Senator Orrin Hatch of Utah rejected
   the president's suggestion of a tax increase and blamed Democrats for
   the financial mess. Senator Hatch also advocated a Balanced Budget
   Amendment to the Constitution as the only long-term solution to
   restraining government spending.
   ^Watch the Republican weekly address:

   IFRAME: [2]http://www.youtube.com/embed/ESKXAQLKl4g

   Speaker of the House of Representatives, Republican John Boehner, said
   Friday the House will vote next week on a $2.4-trillion measure to
   raise the debt ceiling. The Republican-sponsored measure is intended to
   cut spending, cap expenditures and seek to amend the constitution to
   require balanced budgets.

   President Obama said getting such major cuts without new revenue will
   require unacceptably deep cuts in programs that are vital to many
   Americans. He also said elected officials do not need a constitutional
   amendment to make the tough spending decisions that are a key part of
   their jobs.

References

   1. http://www.youtube.com/embed/9GkKDhkM-hw
   2. http://www.youtube.com/embed/ESKXAQLKl4g

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