Obama to give statement Friday on debt ceiling negotiations

White House officials announced Friday morning that President Barack Obama will make a statement on debt ceiling negotiations at 9:20 a.m. CST. The statement will be live-streamed by the White House and is also embedded below.

It will mark the first time Obama has addressed the nation on the ongoing stalemate since Monday night, when he encouraged Americans to urge Congress to act to prevent default.

House Republicans delayed a scheduled vote on their version of a bill aimed at reducing the deficit and temporarily lifting the debt ceiling Thursday night when Speaker John Boehner was unable to garner the votes he needed for passage. The proposal remains alive, however, as GOP leadership continues to push for caucus support.

Even if passed, the House measure is not expected to find favor in the U.S. Senate where Democrats hold the majority.

Absent action, the U.S. Treasury Department says the government will not have enough money to pay its obligations beginning Aug. 3.

U.S. Sen. Tom Harkin and others have argued that if Congress fails to act President Obama has the legal precedent available to raise the debt ceiling by executive order.