Obama calls for the extension of the debt limit

Washington D.C., July 16, 2011

President of the United States Barack Obama spoke to the Parliament through a radio speech and asked the Americans for “a strong sacrifice” to exit the economic situation the country is living.

“I’m willing to compromise. I’m willing to do what it takes to solve this problem, even if it’s not politically popular,” Obama said.

“And I expect leaders in Congress to show that same willingness to compromise,” he added.

“Simply put, it will take a balanced approach, shared sacrifice, and a willingness to make unpopular choices on all our parts.”

The debt of the United States has reached 14,294 billion dollars, which represents the 70% of the GDP. This relation had not been achieved since World War II.