Updated (10:58 EST): On White House press pool duty, National Journal's Rebecca Kaplan files this account of Obama's six-minute statement:
Obama entered the Diplomatic Reception Room and began speaking at 10:36 a.m. He spoke for 6 minutes. He seemed relatively positive, unlike last Friday.
He urged lawmakers to pass a bill with bipartisan support that doesn't "force us to relive this crisis in just a few short months."
The House bill "does not solve the problem."
Obama suggested that a compromise could be reached through either the Reid or McConnell bills and that there were "plenty of modifications" that could be made to both to make them acceptable to both parties.
"I urge Democrats and Republicans in the Senate to find common ground" and asked them to send him a plan he could sign by Tuesday.
He said the two sides are not that far apart and that we "agree on the process." Obama also said he will support mechanisms to hold both parties accountable.
"We are almost out of time," he said and said the US should not lose its AAA rating "because we did not have a AAA political system."
Response from American people was "overwhelming." "Keep it up."
Still said he was confident problem would be solved.
Update (10:48 EST): the President made a brief statement, distilled by National Journal's Major Garrett this way: "time running out, compromise in sight, default is bad, will work all weekend. In other words: No news."
Update (10:30 EST): looks like he's running a little late.
Original post: After John Boehner's postponement of the House debt ceiling bill last night, the President will be giving an address from the White House this morning at 10:20 EST.
This article is from the archive of our partner The Wire.