WASHINGTON – In his weekly address, President Obama said the economy is making progress five years after the worst recession since the Great Depression, but to avoid another crisis, Congress must meet two deadlines in the coming weeks: pass a budget by the end of the month to keep the government open, and raise the debt ceiling so America can pay its bills.
“Our economy is gaining traction,” the President said. “And we’re finally tackling threats to middle-class prosperity that Washington neglected for far too long. But as any middle-class family listening right now knows, we’ve got a long way to go to get to where we need to be. And after five years spent digging out of crisis, the last thing we need is for Washington to manufacture another.”
The President said Congress must meet two objectives: Pass a budget and raise the debt ceiling.
“The most basic Constitutional duty Congress has is passing a budget. But if it doesn’t pass one before September 30th – a week from Monday – the government will shut down,” Mr. Obama warned.
He also warned the not raising the debt ceiling would cause problems, as well. “Congress must authorize the Treasury to pay America’s bills. This is done with a simple, usually routine vote to raise what’s called the debt ceiling. Since the 1950s, Congress has always passed it, and every President has signed it – Democrats and Republicans, including President Reagan.”