Obama: Debt deal is only a first step
President Barack Obama walks out to deliver a statement in the Rose Garden of the White House in Washington, yesterday, following the Senate’s passing of the debt ceiling agreement. (Photo:AP)
WASHINGTON DC, United States
President Barack Obama says the emergency bill Congress passed to prevent a government default is just the first step to ensuring the country lives within its means.
Obama says lawmakers still need to find a balanced approach to reducing the deficit that includes some adjustments to health care benefit plans for the elderly and reforming the tax code so the wealthy pay more.
The president spoke at a press conference shortly after the Senate passed the bill to raise the debt ceiling and avert a potentially catastrophic default. The House approved the bill Monday.
The White House says Obama will sign the bill as soon as it lands on his desk.
