Today's Coming Crisis Movie

Saturday, July 23, 2011

Obama admits the government could default as debt talks collapse AGAIN after Boehner walks out - 23rd July 2011

House Speaker John Boehner blamed President Barack Obama for the collapse of U.S. debt ceiling talks, saying the White House sought to raise taxes and failed to 'make the tough choices' on spending cuts.

'They insisted on raising taxes,' Boehner said at a Capitol Hill briefing soon after Obama addressed reporters.

'They refused to get serious about cutting spending and making the tough choices that are facing our country on entitlement reform'

Boeher's address came moments after the president for the first time for the possibility that the U.S. may default on its financial obligations.

At a hastily arranged White House appearance on Friday evening, Obama said: 'If we default, then we're going to have to make adjustments.'

But minutes later, the president said he remained confident that the debt limit will be extended. Read More