Pelosi Statement Following President Obama’s Address to the Nation

---

Washington, D.C. — Democratic Leader Nancy Pelosi released this statement following President Obama’s address to the nation this evening:

“Tonight, President Obama rightly laid out the severe urgency posed by default and the impact it would pose to our economy and the middle class.

“Democrats stand ready to find a balanced, bipartisan solution, which reduces the deficit, protects the middle class, and Medicare, Social Security and Medicaid beneficiaries.

“The Republican plan proposed by Speaker Boehner does not meet this test.  Not only does it say that in six months we have to start all over again, it would send a continued message of uncertainty to the markets and risks job creation.

“It is important to note that in the dozens of times the deficit limit has been sent to the Congress, this is the first time the debt limit has been obstructed.  We must come together to avoid the disastrous effects that default would pose.”