Obama fears losing reelection more than default

By: Dan Spencer (Diary)  |  July 24th at 02:03 PM  | 

President Obama, fearing losing reelection more than default, threatens to veto any last-minute debt package from Congress unless it extends the nation’s borrowing limit beyond the 2012 elections. Treasury Secretary Timothy Geithner told ABC’s “This Week” that Obama demands that any agreement to increase the debt ceiling extend beyond the 2012 elections. Obama’s chief of staff, Bill Daley, confirmed the veto threat. Daley was asked on NBC’s “Meet the | Read More »