After President Obama's announcement that he and Congressional leaders have arrived at a compromise to raise the debt ceiling and make spending cuts, averting a financial crisis that would have resulted in the United States defaulting on its debt for the first time in history, DNC Chair Debbie Wasserman Schultz issued the following statement:
Today's announcement of a compromise is welcome news. I want to thank President Obama for his tireless leadership on this issue and for his unfailing commitment to do what is right for the country. President Obama and Democratic leaders understood that not raising the debt limit would be absolutely irresponsible, and have been committed from day one to a compromise to lift the cloud of uncertainty facing our country and our economy.
The President and Democrats' primary focus has been to ensure that we meet our obligations and avoid default while beginning to get our fiscal house in order. This deal accomplishes that. It puts in place a framework for long-term fiscal discipline and it makes a down payment on deficit reduction.The agreement sets the stage for a balanced package that includes revenues.
But we're not over the hurdle yet. I urge my colleagues on both sides of the aisle to support this compromise and renew their commitment to working to together in a bipartisan fashion to move our country forward.