President Barack Obama says a failure to increase the government's borrowing authority would effectively shutter the economy.
President Barack Obama says a failure to increase the government’s borrowing authority would effectively shutter the economy.
Obama told reporters at the White House Friday that would have a `profound destabilizing effect’ on the U.S. and global economies.
He accused Republicans of “political grandstanding” and said what they really care about is “appeasing the tea party.”
The government faces two looming deadlines. One is a potential government shutdown Oct. 1 if Congress doesn’t approve a short-term spending bill. The other is a debt limit around Oct. 17 if Congress doesn’t increase the government’s borrowing authority.
- On his birthday, Russell Wilson gives Seattle Seahawks perhaps his greatest game to beat Pittsburgh Steelers
- Update: Seahawks' Jimmy Graham suffers right knee injury vs. Steelers, will miss rest of season
- Suspected burglar dies after getting stuck in chimney
- Seattle Seahawks’ swagger, hopes for playoffs are back after they slam door on Pittsburgh Steelers
- Grading the game: Seattle Seahawks’ offense earns perfect mark against Pittsburgh Steelers
Most Read Stories
Obama says failure to raise the debt ceiling would be far more dangerous than a government shutdown.
Obama has vowed not to negotiate on the debt ceiling.