President Obama
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Obama: 'There are multiple ways to solve this problem'

US president Barack Obama has said there were many compromise possibilities to reach a bi-partisan solution to the debt problem and he expressed confidence that a solution would be found.

The fiscal fiasco leaves the US inching closer to a potentially catastrophic default on federal debt next Tuesday.

The White House has warned the government will run out of money to pay all its bills unless a $14.3tn (£8.7tn) borrowing limit is increased by 2 August.

Barack Obama urged Democrats and Republicans to "seek common ground" to solve the situation.

  • 29 Jul 2011
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