U.S. President Barack Obama said Saturday political sacrifices will be needed by both Democrats and Republicans to break a budget impasse and avoid a looming U.S. debt default. Under pressure to reduce America's 9.2 percent jobless rate, President Obama used his weekly radio and Web address to vow to seek common ground with his Republican opponents and try to overcome serious disagreements on taxes and spending cuts that he says will improve the atmosphere for job creation. He is to meet with top U.S. lawmakers from both parties on Sunday evening in what he says will be a session to perhaps begin the hard bargaining that will be necessary for a deal. Negotiators are working through the weekend. "Both sides are going to have to step outside their comfort zones and make some political sacrifices," President Obama said. "And we agree that we simply cannot afford to default on our national obligations for the first time in our history."
