WNDU - Nation World News - Headlines  Budget chief says Obama
still hopes for grand deal   White House budget director Jack
Lew says President Barack Obama thinks there is still time "to
get something big done" on a grand deal that would increase the
nation's borrowing authority while reducing long-term deficits.
The government will exceed the current $14.3 trillion debt
ceiling on Aug. 2. That could bring higher interest rates and a
halt in Social Security checks.  Lawmakers want to use the debt
ceiling countdown as an opportunity to reduce long-term
deficits, but negotiators have reached an impasse.  Lew said on
NBC's "Meet the Press" that the president "made clear he wants
the largest deal possible." But Lew also said that Obama says if
they can't get the most done, in addition to raising the debt
ceiling, "we should do as much as we can."  powered by Disqus
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