epa02847447 US President Barack Obama makes a statement in the Diplomatic Reception Room of the White House on progress with congressional leadership regarding the debt ceiling, in Washington DC, USA, 29 July 2011. Obama called on congressional leaders to stop ‘holding our economy captive’ and rise above politics to reach a deal to lift the nation’s debt limit, as crisis loomed. Congress must reach an agreement to raise the debt limit – which currently stands at 14.3 trillion dollars – by 02 August or the United States could default on debt payments and suffer a downgrade of its credit rating. EPA/Martin H. Simon / POOL Original Filename: 02847447.jpg