BREAKING NEWS

Obama ready to work through weekend for debt fix

By REUTERS

JULY 29, 2011 17:52

WASHINGTON - US President Barack Obama said on Friday he was ready to work with top Democrats and Republicans through the weekend to get a debt ceiling accord.

In remarks at the White House, Obama said he was confident a solution could be reached despite the impasse that has raised the prospect of a US credit rating downgrade and default.

Unless the $14.3 trillion debt ceiling is raised by Tuesday, the United States will lose its ability to borrow and start to run out of cash to pay its bills.

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