With deadline approaching, still no plan for debt ceiling

Friday, July 15, 2011 - 2:39pm

NATIONAL (FOX44) - We are less than a month away from the August 2nd deadline to raise the nation's debt ceiling, and there's still no plan on the table.
While negotiations on raising the nation's debt ceiling seem to be crumbling, President Obama says lawmakers on both sides of the aisle do agree on one thing, defaulting on the nations debt payments Is simply not an option.

Party leaders remain divided on President Obama's proposal to raise taxes and eliminate tax loopholes.

Republicans are demanding deeper budget cuts, in the trillions.

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