The Washington Times - July 29, 2011, 02:02PM

President Obama is still scheduled to travel to Chicago next week to headline a Democratic fundraiser, press secretary Jay Carney told reporters Friday, saying the White House believes both parties will resolve the impasse over the nation’s debt ceiling by then.

Mr. Obama is using a Wednesday night concert in the Windy City to raise cash for his re-election campaign. According to the Chicago Sun-Times, the event at the Aragon Ballroom — taking place one day before the president turns 50 — features singer Jennifer Hudson and jazz musician Herbie Hancock, with tickets ranging from $200 to $35,800 a couple for dinner.


Mr. Obama has already canceled fundraising events as the deadlock over raising the federal government’s borrowing limit drags on. Tuesday marks the deadline by which the Treasury Department says the U.S. will be at risk of default if Congress fails to lift the $14.29 trillion limit.

“We’re confident that this will be resolved [by Wednesday],” Mr. Carney said. “Obviously, if it’s not, we’ll address the schedule accordingly.”