White House's Lew sees progress in debt talks

Reuters News

7/17/2011 8:53:46 AM - Reuters News

WASHINGTON (Reuters) - White House budget director Jack Lew told CNN on Sunday "there has been activity and progress" in talks to reach a deal to raise the U.S. debt ceiling.

Lew said "quite a bit has been going on" since a meeting on Thursday at the White House with President Barack Obama and Republican and Democratic congressional leaders.

No formal meetings have been held since Thursday's effort to hammer out a deal to cut the U.S. budget deficit and raise the debt ceiling before an August 2 deadline when the government risks defaulting on its obligations.

(Reporting by Eric Beech; Editing by Vicki Allen)