Obama continues push for large deal on debt limit
Includes reporting from John Fritze and Childs Walker.
President Barack Obama, speaking to students at the University of Maryland on Friday, reiterated his desire for a broad agreement to raise the nation's $14.3 trillion debt limit, even as the latest attempt at a "grand plan" took fire from all sides and the clock began to run out.
In an hour long town hall on the College Park campus, Obama repeated calls for a "balanced approach," arguing that the only fair path forward is for wealthy Americans to pay more in taxes if cuts are made to safety net programs such as Medicare and Medicaid. Lawmakers have until Aug. 2 to raise the debt ceiling or risk a default of U.S. obligations.
"This isn't about punishing wealth," the president told the crowd at Ritchie Coliseum. "This is about asking the people who have benefited the most during the past decade to share in the sacrifices. We can pass a balanced plan like this. It's not going to make everyone happy."
Obama, who has been meeting for weeks with congressional leaders at the White House, said he is still working to convince House Republicans of that vision. As he spoke, the Democratic-led Senate, as expected, failed to advance a conservative GOP plan that would have made raising the debt ceiling contingent on passing a constitutional amendment to require Congress to balance future budgets.
Senate leaders also announced that the chamber would not work through the weekend, as had been planned.
"In 2010, Americans chose a divided government," Obama said, "but they didn't chose a dysfunctional government."
Friday's town hall, in which Obama took questions from students and faculty, marks his fourth visit to the campus -- his second as president. He came to College Park in 2009, during the battle over health care, campaigned at the school for president in 2008 and stumped for then-Rep. Benjamin L. Cardin's Senate bid in 2006.
All three of those efforts were ultimately successful.
In a statement, the Republican National Committee argued that Obama and his advisors are "vastly out of touch with reality."
"Stuck in their Washington bubble, Team Obama believes the economy has improved under his watch despite losing 2.5 million jobs and adding 3.7 trillion to the debt," RNC spokeswoman Kirsten Kukowski said.
Though his opening remarks focused on the debt issue, Obama took a range of questions from students, including on the nation's drug policy and whether he had any regrets since taking office.
Aaron Kaufman, a University of Maryland senior with cerebral palsy, implored the president to protect disability funding in negotiations with Congress.
After the speech, Kaufman said he was reassured by Obama’s response. “I could see in the president’s face that he connected with the question,” Kaufman said. “He made the argument that I wanted him to make, which is that we can’t be pennywise and pound foolish.”
Kaufman, a Silver Spring native, shook the president’s hand after the speech and said the president thanked him for spotlighting the needs of the disabled.
“I really felt that he got it,” Kaufman said. “It’s not appropriate to balance the budget on the backs of the disabled. And I thought it was important for him to see the human face of it as he approaches the deadline on the debt ceiling.”
Maryland Gov. Martin O'Malley, Comptroller Peter Franchot and Attorney General Douglas Gansler also attended the event.
"People don't expect Congress always to agree but on fundamental responsibilities, people do expect agreement," said O'Malley, who has increasingly engaged in the debate, including with an address to Democratic lawmakers on Capitol Hill this week. "I think the president's instinct to make this case in public is the right one."
Students and other members of the public had camped out overnight for tickets for the event. On Friday, in an effort to beat the sweltering weather, the university set up portable air-conditioners to cool the crowd that lined up outside on the way into Ritchie.
“I liked that he spoke to us directly,” said Della Cheremoshnyk, a rising sophomore at Baltimore’s Carver Vocational-Technical High School. “He made me feel more assured.”
“I am a little worried about how things are going to be when I get out of college,” said Erica Lamberson, a Washington resident who will begin her freshman year at Emory University next month. “He gave me some hope. That’s what he’s good at.”
Comments
"First it was Steve Wynn, head of the famed Wynn resort empire, speaking out against Obama. Now its Bernie Marcus, co-founder of The Home Depot.
In an interview with Investor’s Business Daily (IBD), Marcus blasted Obama and his policies, saying “even brain-dead economists understand that when you raise taxes, you cost jobs.”
That’s some tough talk. But really, it’s only the beginning:
IBD: President Obama has promised to streamline and eliminate regulations. What’s your take?
Marcus: His speeches are wonderful. His output is absolutely, incredibly bad. As he speaks about cutting out regulations, they are now producing thousands of pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill that’s probably going end up being 150,000 pages of regulations.
It gets even more direct:
IBD: If you could sit down with Obama and talk to him about job creation, what would you say?
Marcus: I‘m not sure Obama would understand anything that I’d say, because he’s never really worked a day outside the political or legal area. He doesn’t know how to make a payroll, he doesn’t understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington. As Washington piles on regulations and mandates, the impact is tremendous. I don‘t think he’s a bad guy. I just think he has no knowledge of this.
Those are some harsh words. And as we get further into this administration, it’s becoming all too common. However, Marcus‘s biggest revelation may not be about Obama’s policies, but more about his administration’s alleged thuggery. According to him, CEOs are scared to speak out for fear of retaliation:
IBD: Why don’t more businesses speak out?
Marcus: They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.
“Out of the mouths of babes,” the Bible says. Nowadays, it’s out of the mouths of business leaders
http://www.theblaze.com/stories/home-depot-co-founder-blasts-obama-even-brain-dead-economists-get-it/
Posted by: Speak out | July 22, 2011 11:54 AM
A slimmed down version of the Nurnburg rallies with Democrat politicans replacing NS Party lumenaries. Although the uniforms were very different, people with opposing views were not among the audiences in either venue. At least in College Park, a few held signs voicing other views. At least the USA still has some measure of free speech
Posted by: Watchful Eye | July 22, 2011 12:13 PM
A "balanced" approach? Sounds to me like Obama needs a dictionary to look up the definition of "balanced"...if there are not matching spending cuts to go with the increase, then they shouldn't increase the ceiling. And we all know that whatever they "agree" to in the next few weeks can be undone down the road....
Posted by: CaptGravy | July 22, 2011 12:16 PM
Obama is contributing to the anti-American, liberal brainwashing the students receive in collge.
Posted by: Leon | July 22, 2011 12:25 PM
Obama surely picked a friendly audience. If you are 20 and not a liberal you have no heart. If you are 40 and still a liberal you have no brain.
Obama took this opportunity to re-hash the same old class warfare message and the cry of send me more money.
No one in the audience challenged his cry for "more revenue" aka TAXES.
A real question would have been:Given Washington's and your spending history Why should we trust you with more money and another credit card?
Posted by: cmjt | July 22, 2011 12:28 PM
Obama speaking to a bunch of taxeaters
Posted by: Anonymous | July 22, 2011 12:30 PM
OK fine Mr president how bout asking your good buddy at GE who didnt pay 1 frikin penny of tax and profitted over 5 BILLION!!!
Posted by: Tyson Brown | July 22, 2011 12:38 PM
In an interview with Investor’s Business Daily (IBD), Marcus blasted Obama and his policies, saying “even brain-dead economists understand that when you raise taxes, you cost jobs.”
It's easy and convenient to blast your opponent when you don't answer the questions posed to you. -What would you tell the president? 'Oh, he wouldn't understand me!' HOW ABOUT YOU TRY HIM. -Why don't businesses speak out? 'Oh, deary me they're too afraid to!' COPOUT.
Posted by: murfneil | July 22, 2011 1:15 PM
The Democrat controlled Senate tabled the Cut Cap Balance bill but have not offered one of their own. Obama has not offered a plan either.
""The Democrat-led Senate's failure to both produce a budget and pass the Cut, Cap, and Balance Act of 2011 underscores the Democrats' irresponsible commitment to the status quo," Sen. John Cornyn, R-Texas, said in a statement after voting for the bill. "While the president and Senator Reid refuse to produce a plan to deal with our debt crisis, Republicans will keep working to meet the nation’s fiscal challenges."
http://www.foxnews.com/politics/2011/07/22/senate-votes-to-set-aside-cut-cap-and-balance-plan-proposed-by-house-gop/
The Democrat are showing the world they cannot lead or govern. They have failed to lead and the President is a total failure!
Posted by: Anonymous | July 22, 2011 1:19 PM
The parasites of our society now outnumber the producers and will feed off of the carcas of a once powerful nation until they strip it clean. They will then turn on each other and in the ensuing chaos, an elite ruling class, "liberals", will seize power permanently enslaving all of us and crushing all dissent. Clear as day for anyone paying attention. The trends are undeniable.
Posted by: Dingo | July 22, 2011 1:35 PM
Balanced approach Mr. President? Was passing your healthcare bill a balanced approach? NO. Was your Stimulus package a balanced approach? NO. You are stubborn and no leader. Stop trying to brainwash the youth of our society. You are a disgrace, and need to be impeached for your lies. Stop the spending. No more revenues. Cut spending now, or no increase in the debt ceiling. What is so difficult to understand about this. I love how he wants so called rich folks to pay their fair share. Aren't they already paying their fair share, Mr. President? Why don't you get your rich friends at GE to pay their taxes, Mr. President. As the Donald would say: "Your Fired", 2012.
Posted by: Jake | July 22, 2011 2:38 PM
"Beneath the tattered banner of reactionary liberalism, Obama struggles to sustain a doomed system. Democrats' dependency agenda is buckling under an intractable contradiction: It is incompatible with economic growth sufficient to create enough wealth to feed the multiplying tax-eaters!" --- George Will
Read more: Impediment to reform - Pittsburgh Tribune-Review http://www.pittsburghlive.com/x/pittsburghtrib/opinion/s_747817.html#ixzz1SrVnuKMg
Posted by: St Reformed | July 22, 2011 3:01 PM
Please approve my comments Mr Censor-the Sun cannot allow free speech on a topic as sensitive as the Communist in Chief.
Posted by: MYOB | July 22, 2011 3:04 PM
"This is about asking the people who have benefited the most during the past decade to share in the sacrifices."
This excuse is getting REALLY old.
Posted by: Joe Ross | July 22, 2011 3:22 PM
First it was Steve Wynn, head of the famed Wynn resort empire, speaking out against Obama. Now its Bernie Marcus, co-founder of The Home Depot.
So you're feeling the pain of executive billionaire hardships? Huh?
The market is up 80% since 2009, corporate profits are at near records and the president still kept the Bush Tax Cuts intact. During the Obama administration, Home Depot stock has gone from 21 to 36.
Wynn Resorts saw a $4.18 billion in net revenue in 2010 -more than double what it made in 2006. (Who was president back then?)
You're right Speak out, those socialists are just killing them!
Posted by: Paul_D | July 22, 2011 4:12 PM
All the jobs work that Administration was doing is held up because of the debt-ceiling debate - tax cuts for small business, $1000 payroll tax cuts for middle class, new investments in education, trade-deals, hi-speed rail, broadband. The Chinese are doing ALL this and getting US corporations to create most new jobs there, inspite of single-digit REAL Corporate tax rates in the US. No DUH, the deficit is worsening..on top the unfunded spending of the last decade. The new House GOP members made the deficit issue urgent during a sinking economy by tying it to the debt limit. That leaves Obama no choice but to accelerate Bowles-Simpson recommendations at the bottom of the economy. Its going to cause a lot of lower middle-class Americans more pain but it will solve the deficit problem faster.
Posted by: Sandeep Agrawal | July 22, 2011 4:37 PM
I agree with the following statement:
"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 U.S. Government can’t 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."
Obama 2006. Oops!
Posted by: Dutch | July 22, 2011 8:49 PM
Any student that believes Obama's b.s. story needs to stay in school and take some economics and business classes!
Posted by: Henry in College Park | July 22, 2011 9:26 PM
Steny Hoyer said on the House floor last night that if the balanced budget amendment Republicans are supporting is ratified and included in the Constitution it would make it “virtually impossible” to raise taxes. So whats wrong with that Steny? You have been all too willing to raise taxes in the past in order to support your lust for more and more spending. That insatiable appetite for more and more spending led to politicians raiding the Social Security Trust Fund and replacing the money with IOUs. Now we are reaping the bitter harvest from that decision. We need a balanced budget amendment to the US Constitution. And we certainly need to replace you Steny.
Posted by: Jeraldo | July 23, 2011 6:54 AM
The real anwser is less goverment, less spending and less taxation. After nearly $1 trillion in federal "stimulus" spending , the economy is still growing at an anemic rate. The first quater of 2011 weighted in at only a 1.8 percent growth ratein GDP. Remember , China is growing at a a 10 percent rate of growth.
Posted by: Gregory l kump | July 25, 2011 6:39 AM