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President Obama On Debt Compromise: ‘The Outcome Is Less Than Satisfying’

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» 23 comments

President Obama released a video message via YouTube today that appeared to address some of the negative reaction felt by his supporters in the wake of what many see as more of a White House capitulation than compromise over the debt crisis debate of the last few weeks. While there are the usual political platitudes you’d expect to find in these sorts of messages, there is plenty of meaning to be parsed in the specifics of what he said, namely, his recognition that this deal is “less than satisfying.”

The crux of the message is that this deal avoids a default by raising the debt limit, and the balanced approach of raising revenue so that the federal government can control deficit spending (that the White House was so vocal about) will be pushed to the fall when the bipartisan “super committee” will make recommendations regarding raising the revenue and simplifying the tax code.

Obama said: “This has been a long and messy process, and is with any compromise, the outcome is less than satisfying. But it has also launched an important debate about how we approach the big challenges we face, about how we rebuild the economy to create greater economy. Whether we tackle our challenges by drawing upon our best values as one country.”

The White House seems to be putting all of their chips on this debate to come, hoping that in the next three months or so, they can convince the American public and the politicians they elected, will reasonably see that there has to be return to pre-Bush era tax rates. If that is not an argument that they can win, we will likely be seeing a one-term president.

Watch the Presidential message below:

(H/T TPM)

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  • john hahn

    no surprise always easier to blame when not involved .will see come election time

  • Harry Flashman

    Translation:

    To my liberal base:

    Come on, guys, don’t be mad at me. I did the best I could without actually getting too involved. That’s risky, you know. I tried to fix it so that the right was to blame no matter what the outcome but that just didn’t work out. I couldn’t do that and get re-elected, too. So, we’re still sweethearts, right?

    Right?

    You know I love you, baby.

    signed,

    Obama
    Your heartthrob

  • James

    One Happy Politician in the entire country today.
    Former President, Jimma Cahta   !!!! 

  • Anonymous

    hahahaha…John Beohner said the house will vote on the bill 1st then immeadiately pound his gavel, end the legislative period and take a 5 week vacation….WTF…guess they dont wanna deal with the fallout….hit and run….i guess they dont want to be around when senate republicans fillibuster the bill

  • Anonymous

    Hey Messiah, don’t you have a calculator in the White House? How about Geithner at Treasury, doesn’t he have one? Because President Genius, you should have known since January the debt ceiling was going to have to be increased. You could have had your lackey Harry Reid introduce a bill in the Senate MONTHS AGO to solve this problem. Yet you did nothing. Whazza matter? Fund raising and golf get in the way?

  • Anonymous

    “Less than satisfying”. It’s very understated, but the first time I’ve agreed with Obama since killing Bin Laden. I’m pretty upset about the political circus that keeps us teetering on the edge of the abyss and claims they’ve done something for our economy.

    The way I see it Harry Reid was the biggest stumbling block in this disaster.

    Regardless, Obama and the Democrats won by watering down the debt deal until it became meaningless. Good job Mr. President and Mr. Reid, see you in 2012.

  • Anonymous

    Mr. President,
    You’re weak.  You continually give in the blackmailers and hostage takers.  People who have no ethics, no moral compass.  If I wanted a Republican president I would have voted for one.  Step aside and let us progressives vote in a strong leader.  It pains me to say this.  

  • http://twitter.com/DrivelLady Laurie B.

    You don’t say, Barry?  Save a dime, lose a dollar.  Good luck with all of that.

  • http://twitter.com/DrivelLady Laurie B.

    You don’t say, Barry?  Save a dime, lose a dollar.  Good luck with all of that.

  • Anonymous

    I feel your pain.

  • Anonymous

    Actually, they did try in January and in February and in March and April………

    Nothing got passed and negotiations (for the last 3 months) were going nowhere.

    This one is everyone’s fault for pushing it to this line to score points.

  • Anonymous

    I can’t believe these idiots actually made the worst combination of a compromise to make this deal. More spending yet no new taxes to help pay for it? Not even one? good grief.

  • Anonymous

    I know it hurts. The fact remains that every president has to work with the congress, and this congress has just enough hard-line conservatives to block everything he tries to do. He has to work with that reality.
    Bush got away with what he did because Democrats fell for the trick of Bush’s liberal spending but conservative taxing.

  • Anonymous

    And it is.  However, the rabid Republicans have pushed the Nation to the brink & the wall with their attenuated onslaught of rancorous, petty, vicious, devisive, buffoonish behavior.  Idologically ignorant & confused, they perform their never-ending dance with Demons.  An uneducated, dumb America is an easily preyed upon America.  The Repugs feast on this truism – as they destroy even the skeletal remains of this once-proud institution.  Sad.

  • Anonymous

    Boo flippin hoo.  Reality check for the big government loving career politicians with nobody to blame but themselves.  No more road left for kickin the can. Oh well.

  • HowardNY

    I suppose he could have used the calculator that Bush left behind — the one that told him that you could have two wars, a massive new prescription program, nation-building and still cut taxes for everyone.

  • http://pulse.yahoo.com/_U7T5LVIQK7AMIBM5WI765VDVDQ smald4lib

    If this compromise from hell does go through, the first thing we have to do is challenge the unconstitutional and undemocratic “Super Congress.” This devious little politburo will complete our transformation into a fascist state by concentrating power into the hands of a select few politicians, answerable to nobody but the corporatocracy. This is not merely Catfood Commission II — it is shaping up to be a type of Politburo, or even a fourth branch of government. The jockeying for a seat at this totalitarian table should be a sight to behold. Look for Joe Lieberman to be jumping up and down, waving his hand, even though he is supposedly retiring.

  • adler56

    Take a  US civics course- if they offer them in your country. Financial bills have to start in the House
    of Representatives.

  • http://societyfordaintydamsels.wordpress.com Fennel

    Below is what Pulitzer prize winning economist Paul Krugman said of the Obama debt compromise.Realize its not my remark. However I believe the economic writers knows what’s talking about.The deal itself, given
    the available information, is a disaster, and not just for President
    Obama and his party. It will damage an already depressed economy; it
    will probably make America’s long-run deficit problem worse, not better;
    and most important, by demonstrating that raw extortion works and
    carries no political cost, it will take America a long way down the road
    to banana-republic status.

  • Anonymous

    Excuse me Mr Obama but what the hell compromise are you talking about??? Weren’t you the one who gave us a big speech about “shared sacrifice?” It is your idea of compromise that Democrats get nothing and that Republicans only get half of what they want? The news media tells us that is the new centrist position. All cuts for middle class programs and not a single dime of tax increases for the richest few or a single tax loophole closed.. not even a dollar less to those pitifully poor oil companies.  Mr Obama,  you are  mincing words telling us its “less than satisfying” Its a total sell out!
    Obama capitulated once again because he believes in “bipartisanship.” Speaker  Boehner said, “Put something on the table, Mr President!” And Obama  put up the white flag of surrender.Go ahead and celebrate all you Tea heads.. but just remember what the ancient Greeks knew..that sometimes when the gods are really angry at you they give you exactly what you pray for..

  • http://pulse.yahoo.com/_BVVDLWM5Z654FOI7P2TKV7VRDU William M

    Harry brought NOTHING to the floor regarding the debt limit… where the heck you get your data needs to be challenged.. 

  • http://pulse.yahoo.com/_BVVDLWM5Z654FOI7P2TKV7VRDU William M

    ya’ll will be seeing Obama in the un-employment line.. Or maybe pounding the streets as a front man for the new Acorn.. 

  • http://pulse.yahoo.com/_BVVDLWM5Z654FOI7P2TKV7VRDU William M

    Ummm… the change in discussion from Stim II to spending cuts came from the mandate the American public sent to Washington in November of 2010.  You must find it gaulling that the TEA Party is 100 percent responsible for this change in topic… How un-American to ask that our government look to the future and spend only what we can afford…. to ask that we all live within a budget.. TO EVEN PASS a budget which Harry and co have failed to do so for over 825 days…. To call them/us rancorous, petty, vicious, divisive, buffoonish is exactly what you’re engaged in.  Our representatives stood the line that we, the voters, hired them on… Hmm.. .a politician that kept his promise to his constituents.. how novel….

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