Obama seeks biggest deficit deal possible, Daley says

WASHINGTON - US President Barack Obama still wants "the biggest deal possible" to reduce the budget deficit and avoid a US debt default, White House chief of staff Bill Daley said on Thursday.
In a speech at the US Chamber of Commerce, Daley also said investors around the world were nervously watching the debt negotiations and wondering if US political leaders still had the capacity to resolve major differences.
Obama believes "it is vital for the US that we raise the debt ceiling and avoid default but he will not accept a short-term solution because it is equally vital for us to get our debt under control," Daley said.