Friday, July 15, 2011
Obama says time running out for debt ceiling deal
US President Barack Obama takes part in a debt meeting with congressional leaders in the Cabinet Room of the White House in Washington, DC.
US President Barack Obama said that deficit negotiations should have been taken care of early rather than allowed to run this close to the Aug. 2 deadline for raising the US debt ceiling. Time is running out to come up with a deal to raise the debt limit, he added.
He told a news conference that failing to raise the debt limit would effectively amount to a tax increase for all Americans.
"We are obviously running out of time and so what I have said to members of Congress is that you need over the next 24 to 36 hours to give me some sense of what your plan is to get the debt ceiling raised," he said.
He told a news conference that failing to raise the debt limit would effectively amount to a tax increase for all Americans.
"We are obviously running out of time and so what I have said to members of Congress is that you need over the next 24 to 36 hours to give me some sense of what your plan is to get the debt ceiling raised," he said.
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