President Obama said today that any solution to avoid default on America's debts must be bipartisan. "There are plenty of ways out of this mess," he said, "but we are almost out of time."
Obama cited Senate Majority Leader Harry Reid's plan containing cuts that both parties could agree on. He also mentioned Senate Republican leader Mitch McConnell's bipartisan solution.
"If we don't come to an agreement," Obama continued, "we could lose our country's triple A credit rating... because we didn't have a triple A political system to match our triple A credit rating."
"The power to solve this is in our hands."
Meanwhile, House Republicans may see House Speaker John Boehner's budget plan bill passing. Boehner added a Balanced Budget Amendment requirement that makes the bill even more repugnant to Senate Democrats and the White House. This addition gained the bill support from Tea Party members. The bill will be voted on today between 5 and 6PM ET, and it's expected to pass.
There will also be a vote on Reid's bill before the end of the day, Reid said.