Obama: Focus Has to Be on the Economy

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July 24 (Bloomberg) -- President Barack Obama, facing renewed battles with congressional Republicans over fiscal policy and the debt ceiling, accused his political opponents of diverting attention from the need to boost the U.S. economy. Phil Mattingly reports on Bloomberg Television's "Bottom Line." (Source: Bloomberg)

President's second term economic pitch.

Good evening.

The obama administration spent much of the first seven months in the second term battling republicans over legislation.

Second term economic pitch.

Today, he attempted to turn the page on all fronts, and turn the focus away from "phony scandals" to improve the structural development of economic class and growth.

With the endless parade of distractions and political posturing and phony scandals, washington has taken its eyes off the ball.

This needs to stop.

Our focus has to be on the basic economic issues that matter most -- matter most to you, the people we represent.

Obama also today weighed in for the first time on the looming fight with house republicans over an increase of the u.s. debt ceiling.

The 2011 battle he called a fiasco.

The words come one day after john boehner said they would not agree without cuts.

A nonstarter for obama and his team.

Battle lines have been drawn.

The president offers specific proposals today?

What should we be expecting in the weeks and months ahead.

What was the republican reaction speech?

Republicans reacting pointed out what some would call a flawed -- a flaw in what he was laying out.

There were no specifics.

He did say there would be speeches in the future, several of which would lay out proposals.

They've got a couple of months, including a congressional recess in august when this comes ahead.

Both sides are staking out their positions.

This text has been automatically generated. It may not be 100% accurate.

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