WASHINGTON, D.C. (FOX44) – In a press conference on the morning of June 29th by President Obama.
He says the government cannot reduce its deficit by keeping all current tax breaks, and says it's not radical to end tax breaks for the wealthy and high earning oil and corporate companies.
President Obama also says he's still confident lawmakers can reach a deal that'll get the government to live within its means.
The President said,
“If the United States government, for the first time, can not pay its bills, if it defaults, then the consequences for the U.S. economy will be significant, and unpredictable, and that is not a good thing."