KPIX CBS 5 Eyewitness News At 5AM January 2, 2013
Raising taxes to give the president more money to spend. Reporter president obama ahead promised to work with congress to find more spending cuts in the future. But he urged them not to play politics with the nations debt limit. I will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. Reporter treasury secretary Timothy Geithner has warned congress that the country is just a few months away from defaulting on its loans for the first time in u. S. History. The consequences for the entire Global Economy would be catastrophi...