Obama to ask business leaders to urge Congress to raise debt limit

“Many reasonable Republicans have said it would be reckless and irresponsible to use the threat of default as a bargaining chip, but some of the extreme members of the Republican Party continue to threaten the full faith and credit of the United States government,” the official said.

Obama has warned he will not negotiate over the debt limit.

Brendan Buck, spokesman for House Speaker John Boehner, the top Republican in Washington, said Republicans are not threatening a debt default.

“The president only uses these scare tactics to avoid having to show the courage needed to deal with our debt crisis. Every major deficit deal in the last 30 years has been tied to a debt limit increase, and this time should be no different,” Buck said.

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