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   Oregon Update -- the federal deficit and should we raise the federal debt limit?   President Obama says that if we don't it would mean the US defaulting on its debts and could result in a global catastrophe.   The Republicans on the other hand are saying that we should NOT raise the deficit limit and instead initiate a huge budget cuts.   President Obama has given a deadline of August 2 to come up with an agreement.   Pro or con... what are your feelings on this matter?   Call us at 646-721-9887 and if you can't make the show, send us an e-mail talk@KRBNradio.com with your feelings pro or con on this issue and will read your letter on the air.