25 Jul 2011

Geithner confident of debt deal

8:17 am on 25 July 2011

US Treasury Secretary Timothy Geithner says he is confident the White House and Congress will be able to agree a deal to reduce US debt.

His comments to CNN were made after talks between President Barack Obama and Congressional leaders on Saturday failed to make a breakthrough.

A debt reduction deal has to be signed before the United States can raise its current borrowing limit, by 2 August. Total federal debt is $US14.3 trillion.