Barack Obama, the US president, has told Republicans they must accept tax increases for wealthy Americans in a deal to head off the risk of a debt default that would deal a "significant" blow to the economy. Obama on Wednesday dismissed criticism that his own leadership was lacking, in a showdown over raising the government's $14.29tn borrowing authority ahead of an August 2 deadline.
Republicans have been demanding heavy spending cuts to narrow a $1tn budget deficit.
The president said his Democrats had accepted tough and painful spending cuts but lashed out at Republicans who he said were blocking his spending on education and health care to save tax breaks for oil firms and corporate jet owners.
"I don't think that's real radical. I think the majority of Americans agree with that," Obama said, speaking at a White House press conference.
Republicans have been demanding heavy spending cuts to narrow a $1tn budget deficit.
The president said his Democrats had accepted tough and painful spending cuts but lashed out at Republicans who he said were blocking his spending on education and health care to save tax breaks for oil firms and corporate jet owners.
"I don't think that's real radical. I think the majority of Americans agree with that," Obama said, speaking at a White House press conference.
