Obama says House republicans just wasted a whole bunch of time, urges a compromise. Obama explains why our AAA credit rating matters. Reagan raised the debt ceiling 18 times. George Bush raised it seven times. Raising the debt ceiling doesn't allow Congress to spend more. It gives Congress the ability to pay the bills for debts already racked up.
Seems to me this is the first time Obama is using this particular backdrop--the fountain--for his weekly address.
