Watch Live: Obama to Make Statement at 12:15 p.m. ET

POLITICS -- August 2, 2011 at 10:52 AM EDT

Watch Live: Obama to Make Statement at 12:15 p.m. ET

Updated 3 p.m. ET: Here's video of the president's Rose Garden statement, courtesy of the AP:

Updated 12:25 p.m. ET: The president's statement has been slightly delayed due to the vote in the Senate. Stay tuned.

Posted 10:52 a.m. ET President Obama is expected to deliver a statement on the debt ceiling at 12:15 p.m. ET in the Rose Garden of the White House.

The House of Representatives passed a measure Monday evening to increase the U.S. debt ceiling by a vote of 269-161. If approved by the Senate Tuesday afternoon, the measure would immediately grant the Treasury Department $400 billion in additional borrowing authority only hours before the Aug. 2 deadline.

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