Obama says willing to craft 'big deal' on budget, deficit

President Barack Obama told fellow Democrats from the House of Representatives on Thursday he is willing to agree to a "big deal" with Congress on spending cuts and tax reforms to end the fiscal uncertainty over the US deficit.

"I am prepared, eager and anxious to do a big deal, a big package, that ends this governance by crisis where every two weeks, or every two months, or every six months, we are threatening this hard-won recovery," Obama told House Democrats attending a three-day retreat. (Reuters)