Obama urges Congress to reach deal on debt ceiling

President Obama said in a prime-time speech Monday night that, unless Congress agrees quickly to a long-term increase in the federal debt ceiling, "we would risk sparking a deep economic crisis, this one caused almost entirely by Washington." He asked Americans to urge their lawmakers in Congress to strike a deal on the issue. He said he would not agree to a short-term increase, as proposed by House Speaker John A. Boehner (R-Ohio), saying it amounted to "kicking the can down the road." He added: "We can't allow the American people to become collateral damage to Washington's political warfare."

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