'No compromise' on Congress lifting the federal debt ceiling: Obama
Quotes

'No compromise' on Congress lifting the federal debt ceiling: Obama

Last Updated: Sunday, January 06, 2013, 09:04
 
 Comment 0
 
'No compromise' on Congress lifting the federal debt ceiling: Obama
Zeebiz Bureau


Honolulu: President Barack Obama hailing the last minute deal saver over the fiscal cliff has warned that he will see no compromise in his insistence on Congress lifting the federal debt ceiling.

Obama, in his online and radio address on Saturday, stated that the fiscal cliff deal would raise taxes on the wealthiest Americans while preventing a middle-class tax hike.

"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," Obama said. "Our families and our businesses cannot afford that dangerous game again."

If elected officials from both parties "focus on the interests of our country above the interests of party, I'm convinced we can cut spending and raise revenue in a manner that reduces our deficit and protects the middle class," Obama said.

With one crisis behind him, Obama faces new battles in Congress over raising the country's USD 16.4 trillion borrowing limit, as well as scaling back more than USD 100 billion in automatic spending cuts for the military and domestic programs.

With Agency Inputs



First Published: Sunday, January 06, 2013, 09:04


Comments


comments powered by Disqus
John Kery with Indian Biz Honchos
John Kery with Indian Biz Honchos
Honda Mobilio MPV
Honda Mobilio MPV
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved