Obama still pushing for big deal on debt, deficits

(AP) - President Barack Obama says it is encouragingthat lawmakers from both sides are in agreement about the need toprevent the U.S. from defaulting on

WASHINGTON - (AP) - President Barack Obama says it is encouragingthat lawmakers from both sides are in agreement about the need toprevent the U.S. from defaulting on its financial obligations.

But Obama says lawmakers shouldn't be getting this close to anAug. 2 deadline to raise the debt ceiling without an agreement.

Obama says he still wants to strike a big deal that would raise thedebt limit as well as cut spending and raise revenues.

After five straight days of meetings, Obama did not scheduletalks with lawmakers Friday. Instead he asked leaders to take threedeficit reduction options to their members to see which could win avote in the House and Senate.

If the debt ceiling isn't raised by Aug. 2, the U.S. risksdefaulting on its financial obligations.

advertisement | advertise on News 12

Trending Video

Fire crews responded to a serious crash in 1 Driver crashes in South Bound Brook
The crash occurred around 12:45 p.m. Saturday in 2 Small plane crashes in residential area; pilot injured
3 Hundreds march in solidarity in Red Bank
News 12 New Jersey - Weather On The 4 New Jersey Weather Forecast
Video: Preparing White House for new president 'organized 5 Video: Preparing White House for new president 'organized chaos'

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE