President Obama will address the nation about the ongoing and very frustrating debt ceiling talks between Democrats and Republicans tonight at 9 p.m. The two sides have presented two different budgets with no compromise in sight despite a fast-approaching August 2 deadline. Investor worries are also having an impact on the value of the dollar, the price of gold, and the stock markets.
Press Secretary Jay Carney announced the President’s address, and took to Twitter with this comment:
The Tea Party has turned compromise into a dirty word, vowing to oust Republicans who would dare to negotiate. The move seems to have defanged our already-weepy Speaker John Boehner (R-OH), who has pushed for a “grand bargain” to no avail. He will make a speech after the President. Both men spoke about the breakdown of talks just a couple of days ago.
CNN has a timeline for the debt-ceiling talks, so you can relive the nonsense at your leisure.