Tags: Debt | Deal | Obama | Silence

Fox News: Debt Deal Hinges on Obama’s Silence

By Michael Kling   |   Thursday, 28 Jul 2011 12:54 PM

President Barack Obama's recent public speeches and news conferences attacking Republicans have only strengthened their resolve to stand firm, Chris Stirewalt writes on FoxNews.com.

Scolding and lecturing House Republicans in an effort to get them to raise taxes to bring the nation's debt under control, he says, backfired and killed chances for "a grand bargain."

Obama can't get anywhere with Republicans by supporting a plan either, Stirewalt says. His support for any measure is "a kiss of death" for Republicans, he writes.

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President Barack Obama
(Getty Images photo)
Although many Republicans dislike House Speaker John Boehner's budget plan because they feel it doesn't cut spending enough, the plan has garnered support simply because Obama and Senate Democrats have criticized it.

And Obama probably can't help Democrats by supporting a plan, Stirewalt writes, saying liberals view him as being unwilling to stand up against Republicans.

After Obama and House Republicans failed to reach a budget deal, Congress took up the issue on its own, with Senate Democrats and House Republicans working rival plans. The smartest thing Obama can do is remain quiet on the sidelines and not rankle Republicans, who control the House, Stirewalt writes.

The president may have gotten the idea, Stirewalt says. Since lashing out against Republicans on Monday, he has remained silent on the issue, offering just a campaign speech to a Democratic Hispanic group. He's scheduled talk about vehicle emissions and global warming on Friday, but nothing that should get House Republicans hot under the collar.

Although being quiet might sound simple, it's not easy for a politician to do, the Fox News writer notes.

Experts warn of dire economic consequences if Obama and Congress don’t reach a deal to raise the debt ceiling and approve a budget by Aug. 2.

The Treasury Department has said the nation won’t be able to meet its debt obligations and rating agencies have warned that they may downgrade the government's AAA credit rating.

According to a Washington Post article, chief executives of some of the most important financial institutions wrote a letter to Obama and Congressional members, urging them to reach a deal this week.

"The consequences of inaction — for our economy, the already struggling job market, the financial circumstances of American businesses and families, and for America’s global economic leadership — would be very grave," they wrote.

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President Barack Obama's recent public speeches and news conferences attacking Republicans have only strengthened their resolve to stand firm, Chris Stirewalt writes on FoxNews.com. Scolding and lecturing House Republicans in an effort to get them to raise taxes to bring...
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