President Barack Obama said he does not expect to have to take any unusual steps to prevent the United States from defaulting on its debt because he believes Congress will raise the debt ceiling before a looming October 17 deadline.
“I don’t expect to get there,” Obama said in an interview with the Associated Press released on Saturday. “There were at least some quotes yesterday that (House of Representatives) Speaker (John) Boehner is willing to make sure that we don’t default,” he said.
“And I’m pretty willing to bet that there are enough votes in the House of Representatives right now to make sure that the United States doesn’t end up being a deadbeat,” Obama said.
Source : Reuters