Friday, July 11, 2025
spot_img

Obama asks Congress to solve debt crisis

Date:

Share post:

spot_imgspot_img

Washington: US President Barack Obama asked congressional leaders Saturday to forget about “reckless political games” and reach an accord to raise the debt limit to avoid debt default, the White House said.

White House spokesman Jay Carney said in a communique that Obama repeated his opposition to a short-term extension of the debt ceiling during the meeting he held at the presidential residence with Democratic and Republican leaders.

The president said that a short-term extension could spark a reduction in the US’ credit rating, damaging the nation’s economy and all Americans, who would have to pay higher interest rates on their credit cards, car loans and home mortgages, Carney said.

Obama believed that, given the current situation, it would be irresponsible to put the US economy at risk in just another few months with another “battle” to raise the debt ceiling.

In that regard, the president said “Congress should refrain from playing reckless political games with our economy. (IANS)

spot_imgspot_img

Related articles

Djokovic one step closer to title

London, July 10: Novak Djokovic’s search for his personal Holy Grail – a 25th Grand Slam title and...

After routing Real Madrid, PSG eye Chelsea and historic quadruple

East Rutherford, July 10: Wearing their blue, red and white jerseys, Paris Saint-Germain supporters were surrounded by white...

Belinda Bencic storms into semis

London, July 9: Returning to the circuit after the birth of her child, Belinda Bencic continued with her...

Asia Cup in doubt after India, Lanka refuse to attend ACC meeting

Mumbai, July 10: The Asia Cup cricket tournament plunged into further doubt and chaos after India and Sri...