"Well, scaring the American people is exactly what President Obama is doing. That bizarre speech he gave last night, it reminded me of when he insisted that TARP had to be passed, you know? It was life or death at that time also. We had to increase spending and the federal government or people would be starving on the streets. Look at what TARP res

RUSH: It's only taken two years, and, what, seven months. Heck, longer than that. I mean I saw it back during the campaign. I'm talking about who Obama really is, this petulant, self-absorbed, egoistic little man-child. Even David Brooks is disappointed. He still likes the substance, but he can't believe how childish Obama's acting. Do you re

"This is an excuse ... a budget deficit is an excuse for the Republicans to undermine government, plain and simple. They don't just want to make cuts. They want to destroy. They want to destroy food safety, clean air, clean water, the Department of Education. They want to destroy your rights. They do not like government," House Minority Leader Nanc

MSNBC: The bleep button was on standby tonight as Lawrence spoke with Bill Maher, host of HBO's Real Time. The pair chatted about the debt ceiling, the 2012 election and all things in between. (Seriously, what's up with all those flag pins on the lapels of most politicians?). Maher, a fan of President Obama, explained his current frustration with p

After a long back-and-forth between Ed Henry, FOX News' White House correspondent and press secretary Jay Carney about President Obama's lack of a public plan, Carney told Henry to tell his viewers everything will be okay: Ed Henry, FOX News: "But over the weekend, Democrats were saying there's going to be a drop if there is no actio

U.S. Senate Republican Leader Mitch McConnell made the following statement on the Senate floor Tuesday regarding the debt ceiling negotiations and efforts to cut federal spending and reduce the deficit: “Last night the President explained to the nation the crisis that we face right now as he sees it. “His hope was to lift the debate up ou

Speaker Boehner responds to President Obama's address to the Nation on the debt crisis and negotiations.

"Both of these plans will add somewhere between $7 to $8 trillion over 10 years. The real disservice to the American people is they need to be honest about their accounting up here. "None of these cut spending, none of these cuts the deficit. Both plans will add $7 to $8 trillion. I don't think our country can withstand that addition of new debt

"At this point, you know, we have three options here. One is to wait, do nothing and go past August 2nd and bring on possible default, which I for one am not for, nor is the Speaker or any of us standing up here. Another is to go with Harry Reid's plan. Which is as the Speaker said, a blank check. Something that we as Republicans don't believe most

"Speaker Boehner's plan is not a compromise. It was written for the tea party, not the American people. Democrats will not vote for it. Democrats will not vote for it. Democrats will not vote for it. It's dead on arrival in the Senate, if they get it out of the House," Sen. Harry Reid (D-NV) said at a press conference this afternoon.

Brit Hume says the reason why President Obama gave a nation address was because he did not want to look like a "potted plant" in the debt negotiations.

The first question is from NBC's Chuck Todd, however eventually other members of the WH press corps jump in wonder where is President Obama's debt plan.

Bill O'Reilly suggests that President Obama doesn't want a budget deal so that he has another opportunity to "blame Republicans" and benefit his re-election campaign.

Robert Reich, Fmr. Secretary of Labor: "There is a big lie being perpetrated by Republicans it it transcends our deficit/debt issue. And the lie is: If the government reduces its spending, somehow we create more jobs. That is exactly the reverse of reality, Ed. "The reality is: Because of Medicaid and Medicare and Social Security payments people

WH Communications Director Dan Pfeiffer: "We are seven days away from an unprecedented financial event in this country's history. One that could potentially put us towards a depression because the House Republicans, led by Speaker Boehner, are unwilling to compromise one inch." Pfeiffer spoke to CBS News Radio on Tuesday morning.

CNN's Gloria Borger: "What was interesting, also, is that the debate we are having in Washington today seems to move beyond the tax increases, at least in the short term. No one today is talking tax increases, except Barack Obama who still talked about that tonight in his speech. "The plan by Harry Reid contains no tax increases, in the short te

"We believe that we will get a deal. We do not believe the United States will default on its obligations for the first time in its history. We do not believe that we will forsake the gold standard, AAA rating, credit rating that this country has held for so long. It has made it the safest investment around the world," White House press secretary Ja

Joan Walsh: "You know, we just have to talk about the utter mendacity of John Boehner tonight. I'm sorry, Ed. This man, better or worse, has been negotiating with the President. On Friday, they got within $400 billion of a deal. Sounds like a lot of money, but when you're talking about $4 trillion, it's not really that much. They were close, he had