US President Barack Obama said Tuesday that "some progress" has been made in tough debt talks, as he congratulated a bipartisan group of senators busy hammering out a "balanced approach."
Economists have said that failing to raise the debt ceiling could be catastrophic for the U.S. economy, but at least one lawmaker stands to gain financially if the country defaults on its debts.
President Barack Obama warned Wednesday that a failure to raise the US debt ceiling could trigger "significant" and "unpredictable" damage to the fragile US economy and smother job growth.
WASHINGTON (AFP) – Delay in raising the US debt ceiling could reverse the fledgling recovery and trigger a new economic meltdown, US President Barack Obama said in a interview broadcast on Tuesday.
WASHINGTON (AFP) – President Barack Obama warned the United States risked plunging back into recession if a standoff over the US debt ceiling lingers, as a top Republican said he was ready to cut a deal.
