Obama continues to push debt agenda

09:02, July 07, 2011      

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U.S. President Barack Obama answers a question posed to him on the social Networking site Twitter at the White House in Washington D.C., capital of the United States, July 6, 2010. Obama on Wednesday continued to push the debt agenda, urging the Republicans to accept a deal that includes tax increase on the rich. (Xinhua/Zhang Jun)

U.S. President Barack Obama on Wednesday continued to push the debt agenda, urging the Republicans to accept a deal that includes tax increase on the rich.

Debt ceiling "should not be used as a gun against the heads of Americans" to retain breaks for corporate jet owners or oil and gas companies, Obama said when answering questions posed to him on the social Networking site Twitter.

With an Aug. 2 deadline closing in, Obama urged lawmakers in both parties to break the stalemate that halted talks nearly two weeks ago and seize what he called "a unique opportunity" to do something big to balance the nation's finances.

He reaffirmed that the country's critical debt challenge should be addressed, but needed to be done in a "balanced approach."

The President's Twitter Town Hall meeting was the latest effort from the Obama administration to move the debt issue as the two parties are engaged in tough negotiations and have not inked a deal to raise the 14.29-trillion-U.S. dollar debt ceiling.

Republicans have refused to discuss any debt-reduction deal that includes higher taxes, while Democrats have rejected any deal based solely on spending cuts.

Source: Xinhua

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