President Obama Addresses Debt Deadlock in News Conference

President Barack Obama today held a news conference at the White House in which he advocated myriad ways to reduce the deficit, including ending tax breaks for the wealthy, oil companies, and users of corporate jets.

Obama chastised Republican leaders in an hourlong televised news conference Wednesday, moving the debt talks out of the realm of closed-door Washington meetings and into full public view, and setting off a high-stakes effort to mobilize public opinion.

President Obama intensified pressure on congressional Republicans in negotiations over the federal debt, depicting GOP leaders as supporting tax breaks for jet-setting executives at the expense of college scholarships or medical research.