President Obama spoke to the nation just after the Senate passed a bill to raise the debt ceiling and shortly before he signed it into law.
He began the speech thanking the American people for putting pressure on elected officials to “put politics aside and work together for the good of the country,” then went on to say that issues raised during the debt ceiling debate are still open for discussion in the future.
“And since you can’t close the deficit with just spending cuts, we’ll need a balanced approach where everything is on the table. Yes, that means making some adjustments to protect health care programs like Medicare so they’re there for future generations. It also means reforming our tax code so that the wealthiest Americans and biggest corporations pay their fair share. And it means getting rid of taxpayer subsidies to oil and gas companies, and tax loopholes that help billionaires pay a lower tax rate than teachers and nurses.”