Wednesday, July 20, 2011

Pres. Obama: Debt deal is done, almost

Pres. Obama said Today there's a almost-done deal, which has the support of Republican and Democrat senators, as well it's the support American people. The plan of course includes "modifications" to medicare, medicaid and social security. Tomorrow, President informed, Harry Reid, Nancy Pelosi, Mitch McConnell, and Speaker Boehner will hammer out a final deal - if that's ever possible.

"Some progress was made in some of the discussions, some narrowing of the issues. Speaker Boehner and the Republican House caucus felt it necessary to put forward the plan that they're going to be voting on today. I think everyone's estimation is, is that that is not an approach that could pass both chambers, it's not an approach that I would sign and it's not balanced. But I understand the need for them to test that proposition," said President Obama yesterday

"We have a Democratic president and administration that is prepared to sign a tough package that includes both spending cuts (and) modifications to Social Security, Medicaid and Medicare that would strengthen those systems and allow them to move forward, and would include a revenue component," Obama added today.

President Barack Obama delivers a statement in the James S. Brady Press Briefing Room on the status of efforts to find a balanced approach to deficit reduction, July 19, 2011.
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