Statement by President Obama Following the Senate’s Passing the Debt Ceiling Compromise Bill

Washington, DC–(ENEWSPF)–August 2, 2011 – 1:06 P.M. EDT

THE PRESIDENT:  Good afternoon, everybody.  Congress has now approved a compromise to reduce the deficit and avert a default that would have devastated our economy.  It was a long and contentious debate.  And I want to thank the American people for keeping up the pressure on their elected officials to put politics aside and work together for the good of the country. 

This compromise guarantees more than…