Obama Says No Short-Term Deal On Federal Debt

As talks resumed Monday after a weekend of no progress with congressional leaders, President Obama insisted that now is the time for a far-reaching deal on the federal debt. He warned that the U.S. will default on its debts if a deal is not struck soon, and said he will not sign a proposed short-term deal that would postpone the reckoning. Steve Inskeep talks with NPR's Ari Shapiro about Obama's news conference.