Obama: 'Reckless' If We Can't Cut Deal

President Obama took to the airwaves tonight, charging that the only ones standing in the way of a balanced compromise to the nation's debt crisis are those Republicans in Congress who are insisting only on spending cuts. "The American people may have voted for divided government, but they didn't vote for a dysfunctional government," the president said in a hastily arranged primetime speech. He appealed to the public to contact lawmakers and demand "a balanced approach" to reducing federal deficits, calling a failure to reach compromise a "reckless and irresponsible" outcome.

Republicans and Democrats have put forth competing last-minute deals. Speaker of the House John Boehner, in his rebuttal immediately after, charged that, "The sad truth is that the president wanted a blank check six months ago, and he wants a blank check today. That is just not going to happen." Directly challenging the president, Boehner said there "is no stalemate in Congress." Click for a breakdown of the rival Senate and House plans. (More President Obama stories.)