Here Comes Obama's Statement On The Government Shutdown And Debt Ceiling

President Barack Obama will deliver a statement at 3:30 p.m. ET on the looming budget crises, the White House announced today.

His statement will come as Congress is battling in debates over keeping the government funded past Sept. 30 and raising the debt ceiling by Oct. 17.

The Senate on Friday passed its version of a bill to keep the government funded and avert a government shutdown, the latest move in legislative ping-pong between the two chambers of Congress.

The Senate's continuing resolution funds the government through Nov. 15, and it strips language in a House of Representatives "CR" to defund the Affordable Care Act. The final vote passed in a 54-44 vote.

Now it goes back to the House, where it could face additional changes. If the two chambers can't agree on a compromise before Oct. 1, the government will partially shut down.

Obama and the White House have spent much of the past few weeks warning against "self-inflicted wounds" that budget battles could have on the economy. Obama has said he won't sign any bill that defunds Obamacare. On Thursday, White House senior adviser Dan Pfeiffer went so far as to compare House Republicans to suicide bombers, arsonists, and kidnappers taking a hostage.

We'll be covering the statement live. Check back here for updates.