Obama: ‘We Are Obviously Running Out Of Time’

Today, in remarks about the status of the debt and deficit negotiations, President Barack Obama said, “we are obviously running out of time,” and asked Republicans to present him with “a serious plan.”

Today, President Barack Obama gave another press briefing, in which he made what the White House called “Remarks on the Status of Efforts to find a Balanced Approach to Deficit Reduction.”

He began with a brief statement, saying that there would be no talks today. He also expressed his concern about the Aug. 2 deadline being so close: “this should have been taken care of earlier,” and “we are obviously running out of time.”

Obama also stated his belief that a “big deal” was still possible, but “if we can’t do the biggest deal possible, then let’s still be ambitious.” He later said that there is still time “to do a big deal.”

The President, speaking about plans the Republicans have proposed, said: “If they show me a serious plan, I’m ready to move, even if requires some tough decisions on my part.” Later, when asked by reporters to clarify what constituted “a serious plan,” Obama said, “my expectation is that you’ll probably see the House vote on a couple of things just to make political statements.”

Obama also said several times that “we don’t need a Constitutional amendment” to balance the budget. However, he said that Senate Minority Leader Mitch McConnell’s (R-Ky.) plan showed that “people are serious” about not defaulting, and that just raising the debt ceiling without cutting spending was an option, but not the one he favors.

Asked if he still had hope for a significant bipartisan agreement, Obama said: “I always have hope. Don’t you remember my campaign?”

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