Barack Obama did an interview with George Stephanopolous on the debt and and budget talks that are happening now. The transcript is here.
There are probably two big headlines to come out of it. One is that the two sides are too far apart for a grand bargain.
The other is that Obama says there's no immediate debt crisis.
The latter is the most controversial because people will say Obama is in denial, but it's objectively true. Borrowing costs are very low, and for the next several years, deficits are likely to be at what people call "sustainable" levels (levels that aren't bigger than nominal GDP growth).
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