US president urges opponents to accept tax rises for richer Americans, warning of consequences unless debt deal agreed.
US inches towards default deadline
Economic powerhouse may face prospect of plunging back into recession if political standoff continues.
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
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