(Image source: The White House)

BY TRACY PFEIFFER

ANCHOR CHRISTINA HARTMAN

You're watching multisource politics video news analysis from Newsy. 

There’s just a week to go until the Treasury’s August 2nd deadline to raise the debt ceiling. President Barack Obama and House Speaker John Boehner held a second round of dueling addresses on the issue Monday.

Pres. BARACK OBAMA: “Based on what we’ve seen these past few weeks, we know what to expect six months from now. The House of Representatives will again refuse to prevent default unless the rest of us accept their cuts-only approach.”

Speaker JOHN BOEHNER: “There’s no stalemate here in Congress. The House passed a bill to raise the debt limit with bipartisan support. And this week, while the Senate is struggling to pass a bill … we’re going to pass another bill, one that was developed with the support of the bipartisan leadership of the U.S. Senate.”

(CNBC)

And as the deadline creeps closer -- the world watches.

Some experts say the US is risking default on its debt obligations -- which could cause financial catastrophe.

Others aren’t so convinced.

At any rate, many -- like Huffington Post contributor Meredith Bagby -- are fed up.

“I am irate at the Tea Party for creating the crisis in the first place by linking debt default to deficit reduction. I am perplexed by House leader John Boehner for being unable to control his ranks to bring the freshman agitators to the negotiating table. I am disappointed that the Democrats (and Obama) did not preemptively deal with the debt at a time when they controlled both houses of Congress.”

A columnist for the Denver Post says he isn’t surprised Capitol Hill is seeing an ugly battle -- but he can’t believe the scope of it all.

“We're this close. We're a week from a huge, entirely self-inflicted wound that might well take years to heal. It's not just dangerous. It's embarrassing.”

Then of course -- there’s the finger-pointing.

A writer for the American Prospect says -- nobody wants to lead the US into financial catastrophe -- so what’s going on?

“It’s cliché, but this fight isn’t about policy as much as it is about politics; insofar as House Republicans have a condition for anything, it’s that President Obama must suffer. The Republicans elected in last year’s takeover of the House are driven purely by opposition to the president -- so much so that GOP lawmakers will only support a deal if it’s also a political loser for Obama.”

But The New York Times’ David Brooks argues -- Mr. Obama is also to blame for the standstill.

“...the White House negotiating process was inadequate. ...Everything was mysterious, shifting and slippery... Democrats in Congress were kept in the dark and were understandably suspicious. It was all a recipe for misunderstandings, hurt feelings and collapse. ...This should be a humbling moment for the White House, and maybe a learning experience.”

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Transcript by Newsy.