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Obama: some Republicans downplaying risks from default
July 21, 2011 / 7:21 PM / 6 years ago

Obama: some Republicans downplaying risks from default

WASHINGTON, July 14 (Reuters) - Some Republican lawmakers have been downplaying the consequences of a potential U.S. debt default, U.S. President Barack Obama told National Public Radio on Thursday, in an interview to be broadcast on Friday.

In excerpts released by NPR, Obama also said that any deal to cut U.S. deficits and raise the debt ceiling must include some tax increases alongside defense and other spending cuts.

“We’re also going to have to have more revenues and we can do that in a way that is not hurting the economy (and) in fact could potentially help the economy by closing up some loopholes that distort the economy,” he said. (Reporting by Laura MacInnis and Matt Spetalnick, Editing by Sandra Maler)

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