Obama still pushing for large deficit dealPosted: Updated:
(AP) - President Barack Obama says he will continueto push congressional lawmakers to reach the largest deal possibleto cut government spending and raise the nation's borrowing limit.
Obama says he knows his call for a large deal faces resistance.House Speaker John Boehner has said a smaller deal stands a betterchance of passing on Capitol Hill. But the president insisted,"Now's the time to do it. If not now, when."
Obama says he and lawmakers will keep meeting until they reach adeal to increase the nation's borrowing limit. The TreasuryDepartments says the U.S. will start defaulting if lawmakers don'traise the debt ceiling by Aug. 2.