President Obama Injects Urgency Into Deficit Talks: Time to 'Pull Off the Band-Aid'


Default by the U.S. would send ripples through the global economy and cause hardship for many Americans at home. Government checks to Social Security recipients, veterans, and federal employees could all be suspended. Interest rates would skyrocket across the board. And the stock market could plummet, hurting millions of Americans' retirement plans.

"I would hope that there is enough bipartisan intelligence and understanding of the challenge that is ahead of the United States, but also the rest of the world," International Monetary Fund managing director Christine Lagard said Sunday on "This Week."

Talks will continue this afternoon at the White House -- the third meeting since Obama became directly involved in the talks. Negotiators for both sides are expected to meet every day until a deal is reached.

  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
You Might Also Like...
See It, Share It
PHOTO: Firefighters rescue a woman who got stuck in a chimney in Thousand Oaks, Calif.
Ventura County Fire Department
PHOTO: Apple Pay is demonstrated at Apple headquarters on Oct. 16, 2014 in Cupertino, Calif.
Marcio Jose Sanchez/AP Photo
PHOTO: Up in Ash: Mount Sinabung Erupting
Tibt Nangin/Anadolu Agency/Getty Images
PHOTO: Defendant Jodi Arias testifies about killing Travis Alexander in 2008 during her murder trial in Phoenix, Feb. 20, 2013.
Charlie Leight/The Arizona Republic/AP Photo
PHOTO: Kim Kardashian, Kanye West, their daughter North West and Delphine Arnault attend the Givenchy show as part of the Paris Fashion Week Womenswear Spring/Summer 2015, Sept. 28, 2014 in Paris.
Bertrand Rindoff Petroff/French Select/Getty Images