Obama: No Radical Approach Needed

Posted July 15th, 2011 at 11:45 am (UTC-5)
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President Obama told reporters the country does not need to do anything radical to fix its debt woes.

He said the “American people are sold” on a solution to the current crisis and that polls show that 80 percent of Americans support reducing spending on programs it cannot afford as well as raising revenue.

Mr. Obama rejected calls by some Republican lawmakers to change the country's Constitution in order to require Congress and the president to balance the budget. He said Washington just needs to be willing to make tough choices.

The president also denied suggestions that talks between his administration and Republican leaders have gotten “ugly.”

Mr. Obama said the main problem is that too many lawmakers are refusing to compromise on a solution that will benefit the country as a whole.

He praised some lawmakers, including Senate Minority Leader Mitch McConnell, for acknowledging that the consequences of the country defaulting on its obligations would be serious. But he said it is no longer enough just to raise the debt limit.

Mr. Obama said Washington must solve the underlying problem by cutting spending in a responsible way.