Crosspost

July 25, 2011 | 2:26 PM EDT

In the midst of a showdown over how the government will increase the debt ceiling by Aug. 2, President Barack Obama blamed a splintered news media for lack of compromise between the parties and stressed that President Abraham Lincoln believed in compromise.

Obama spoke to a packed Ritchie Coliseum at the University of Maryland Friday as part of a town hall meeting promoting what he called a “balanced approach” to reducing the federal deficit – which he believes includes increasing taxes on high earners along with cuts.

July 25, 2011 | 2:17 PM EDT

President Barack Obama said that Franklin Delano Roosevelt (FDR) – the president best known for establishing a welfare and regulatory state in America – was “fiscally conservative,” in response to a question about how to keep the economy going.

Obama was referring to spending-cut measures Roosevelt took in the middle of the New Deal that lasted from 1933 to 1940.

July 19, 2011 | 3:01 PM EDT

While President Barack Obama has not presented a specific alternative to Republican plans for reducing spending in the lead up to a vote on raising the debt ceiling, the White House has issued a formal veto threat to the “Cut, Cap and Balance,” plan that is expected to pass the House of Representatives on Tuesday.

“If the president were presented this bill for signature, he would veto it,” said a statement from the White House Office of Management and Budget (OMB).

July 18, 2011 | 4:35 PM EDT

President Barack Obama says America does not need a balanced budget amendment to the Constitution, and he once again blamed much of the fiscal problem on Bush-era tax cuts.

“We don’t need a constitutional amendment to do our jobs,” Obama told reporters at his Friday news conference. “The Constitution already tells us to do our jobs -- and to make sure that the government is living within its means and making responsible choices.” 

By NB Staff | July 14, 2011 | 10:20 AM EDT

Two days after Anderson Cooper described President Barack Obama as the "adult" in a room of unruly Republicans, Obama reportedly stormed out of a heated discussion on debt negotiations yesterday due to his frustration with House Majority Leader Eric Cantor.

Also yesterday came a stern reminder from House Minority Leader Nancy Pelosi that the president has repeatedly listened to the concerns of Congress but that "nobody can out debate him." Check out a video of Pelosi's remarks after the break, and let us know what you think of Obama's actions in the comments.

July 13, 2011 | 11:14 AM EDT

President Barack Obama told CBS News today that there may not be enough money in the U.S. Treasury to cover Social Security checks after Aug. 3 if Congress does not agree to lift the legal limit on the federal debt and allow his administration to borrow more money.

"I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the money in the coffers to do it," Obama told CBS News anchor Scott Pelley in an interview.

July 11, 2011 | 3:42 PM EDT

President Barack Obama and congressional leaders seeking to negotiate a deal to increase the legal limit on the federal government's debt, would need to agree to increase that debt by $615.865 billion between now and Sept. 30, just to keep the government going at current spending levels, according to the CBO's latest estimate of the fiscal 2011 deficit and the Treasury Department's latest accounting of the federal debt.

July 11, 2011 | 3:35 PM EDT

At a White House press conference today, President Barack Obama said that "professional politicians" understand the debt crisis better than "the public." 

July 6, 2011 | 4:49 PM EDT

President Obama’s nominee to a top State Department post is one of the few American diplomats to have met North Korea’s Kim Jong-il, whom she later described as “smart, capable and supremely confident.”

Wendy Sherman traveled to Pyongyang in 2000 in her capacity as counselor to then-Secretary of State Madeleine Albright. Visiting South Korea four years later – when she was no longer in government – Sherman had positive things to say about the reclusive Stalinist leader. 

July 6, 2011 | 3:13 PM EDT

Senate Majority Whip Dick Durbin praised Rep. Paul Ryan’s (R-Wis.) willingness to work on entitlement reform while on the Senate floor Wednesday stating, “I don’t disagree with Paul Ryan saying we have got to look honestly at Medicare.”

July 5, 2011 | 2:34 PM EDT

Speaking just for myself, I think that President Obama tapping into America's strategic oil reserve was an extremely unwise and dangerous move.

They can say that he didn't do it for political purposes, but until the cows come home and set up housekeeping, I still won't believe it.

July 5, 2011 | 2:15 PM EDT

A major car-rental company is inviting customers to "help save the environment with your next rental."

As part of its carbon offset program, Enterprise Holdings offers customers the option of adding $1.25 to the cost of the rental car, which Enterprise will match dollar for dollar, up to a total of $1 million.