President Pushes To Close Carried-Interest Loophole As Default Nears

Jul 26 2011 | 1:43pm ET

With the United States lurching towards its first-ever debt default after the acrimonious, on-and-off talks between President Barack Obama and Congressional Republicans collapsed again, the president turned to the American people to insist that higher taxes be part of a balanced plan to reduce the deficit and increase the country's debt limit.


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