Obama aiming for big debt deal: Geithner

Reuters News
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Posted: Jul 10, 2011 9:38 AM
Obama aiming for big debt deal: Geithner

WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Sunday that President Barack Obama will work toward getting the "biggest deal possible" in debt negotiations with Congress.

Geithner told NBC's "Meet the Press" that if the debt ceiling is not raised by August 2 and credit rating agencies downgrade U.S. debt, that could lead to "catastrophic damage" to the economy.

(Reporting by Tabassum Zakaria; Editing by Sandra Maler)