Obama Vows No Negotiations on Debt as Deficit Talks Loom
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President Barack Obama vowed he won’t negotiate over raising the government’s debt ceiling even as he offered to deal on a separate track with the deficit reduction demanded by Republicans.
Warning of economic calamity and stalled payments to Social Security recipients, military personnel and government creditors if the $16.4 trillion debt limit isn’t lifted, Obama accused Republicans of holding the nation hostage as he sought to push Congress toward action.