Obama denounces politics, urges solution in intractable debt fight

As talks about raising the U.S. debt ceiling and reducing the budget continue, President Barack Obama on Monday called some Republicans irresponsible for refusing to raise the debt limit. The president, who is backing $4 trillion in cuts, also challenged GOP leaders to come up with a plan to reduce the deficit. Congressional leaders remain in a standoff, with Democrats pushing to end certain tax breaks for wealthier Americans to add new revenue in addition to cuts, and Republicans opposing new taxes and targeting cuts in entitlement programs that many Democrats want to protect.

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