Resources on the Ongoing Debate about our National Debt

President Obama: "Just the First Step"

After Congress approved the compromise to reduce the deficit and avert a default that would have devastated the economy, President Obama addressed this important first step from the Rose Garden.

President Obama Supports the Bipartisan Deal

President Obama spoke in support of a bipartisan deal to reduce the nation's deficit and avoid default. It extends the debt limit to 2013, removing the cloud of uncertainty over our economy and ensuring that no one will be able to use the threat of default now or in only a few months for political gain. The bipartisan compromise assures that the United States meets its obligations – including monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses.

Check out the video below or read the President's remarks.   

Watch the President Address the Nation

With just days until our nation faces an unprecedented financial crisis, the President addressed the nation on the consequences the stalemate in Congress could have on the stability of our economy.

Check out the video below or read some key passages from his remarks.   

INFOGRAPHIC: Where does our national debt come from?

To explain the impact various policies have had over the past decade, shifting us from projected surpluses to actual deficits and, as a result, running up the national debt, the White House has developed a graphic for you to review and share.

Check out White House Office Hours

Starting this week, senior staff at the White House will hold regular "Office Hours" to answer your questions on a host of issues and topics.

Use the hashtag #WHChat on Twitter to ask administration officials your questions on President Obama’s speech and the ongoing deficit debate. White House staff will respond to your questions in real-time via Twitter during Office Hours. Here's the schedule so far, follow @WhiteHouse for the latest updates and more chances to engage:

• Tuesday, July 26
  • 5:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council
• Wednesday, July 27
  • 2:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council
• Thursday, July 28 at 
  • 1:00 p.m. EDT: Office Hours with Jason Furman, Principal Deputy Director of the National Economic Council
  • 3:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council
• Friday, July 29
  • 10:00 a.m. EDT:Office Hours with Jason Furman, Principal Deputy Director of the National Economic Council 
  • 4:00 p.m. EDT: Office Hours with Brian Deese, Deputy Director of the National Economic Council

Please note that we will do our best to stick to this Office Hours schedule, but times are subject to change.