US inches towards default deadline
Economic powerhouse may face prospect of plunging back into recession if political standoff continues.
Published On 3 Jul 2011
Barack Obama has cautioned that no area can be off-limits when it comes to tackling the country’s record budget deficit despite Republicans’ protests.
On Saturday the US president said any plan to deal with the country’s $14.3tn debt must include an end to tax breaks for the wealthy.
Al Jazeera’s Tom Ackerman from Washington DC.
Source: Al Jazeera