Obama reaffirms opposition to short-term debt ceiling extension
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Xinhua, July 24, 2011
U.S. President Barack Obama reaffirmed his opposition to a short-term extension of the debt ceiling and urged Congress to work on a deal to avert the country from default, said a White House statement on Saturday.
"It would be irresponsible to put our country and economy at risk again in just a few short months with another battle over raising the debt ceiling," the White House said in a statement shortly after Obama met with congressional leaders.
The White House urged the Congress to stop "playing reckless political games" and take the responsibility to work and avoid the country from an unprecedented default.
The U.S. borrowing limit, currently at 14.29 trillion dollars, was reached on May 16 this year. The U.S. Treasury Department said the country would default without an agreement to lift the limit by Aug. 2.
The White House wants to extend the debt ceiling by enough to avoid another politically painful vote before his November 2012 re- election bid. While Republicans wants to make the topic an obstacle on Obama's way.
Obama on Saturday met with Democrats Senate Majority Leader Harry Reid and House Democratic Leader Nancy Pelosi, as well as Republican House Speaker John Boehner and Senate Minority Leader Mitch McConnell, a day after negotiations collapsed when Boehner broke down talks with Obama.
Still, Boehner said in a statement Saturday that House and Senate leaders will try to find a bipartisan solution to cut spending and "preserve the full faith and credit of the United States."
