President Speaks Out About Debt Debate

President Barack Obama says he will continue to push lawmakers to reach the largest deal possible to cut government spending and raise the nation's borrowing limit. The President spoke this morning from The White House. He said he knows his call for a large deal faces resistance. House Speak John Boehner said a smaller deal stands a better chance of passing on Capitol Hill but President Obama insisted that now is the time to act. The President said he and key lawmakers will continue meeting until a deal is reached. The Treasury Department says the U.S. will start defaulting on financial obligations if lawmakers do not raise the debt ceiling by August 2. 9&10 News will have much more on the President's press conference today, tonight on 9&10 News at 5:00 and 6:00.