News / USA

Obama Offers Reassurance as Debt Ceiling Deadline Looms

President Barack Obama speaks about the the budget and the partial government shutdown, Oct. 8, 2013, in the Brady Press Room of the White House in Washington.
President Barack Obama speaks about the the budget and the partial government shutdown, Oct. 8, 2013, in the Brady Press Room of the White House in Washington.
VOA News
President Barack Obama tried to reassure the world Tuesday that the United States has always paid its bills, as the country faces a deadline to raise the debt ceiling.

Obama told journalists that investors are nervous about remarks from Congress indicating a debt default may not damage the world economic recovery.

"Warren Buffett likened default to a nuclear bomb, a weapon too horrible to use," the president warned. " It would disrupt markets. It would undermine the world’s confidence in America as the bedrock of the global economy.  And it might permanently increase our borrowing costs -- which, of course, ironically would mean that it would be more expensive for us to service what debt we do have, and it would add to our deficits and our debt, not decrease them.  There's nothing fiscally responsible about that."

But the president repeated his stance that he will not negotiate with congressional Republicans on fiscal and budget issues until they pass legislation to both raise the debt limit and fund the federal government, which is now in the second week of a shutdown.  

Fair game

House Speaker John Boehner of Ohio speaks about the ongoing budget battle, Oct. 8, 2013, outside his office on Capitol Hill in Washington.House Speaker John Boehner of Ohio speaks about the ongoing budget battle, Oct. 8, 2013, outside his office on Capitol Hill in Washington.
x
House Speaker John Boehner of Ohio speaks about the ongoing budget battle, Oct. 8, 2013, outside his office on Capitol Hill in Washington.
House Speaker John Boehner of Ohio speaks about the ongoing budget battle, Oct. 8, 2013, outside his office on Capitol Hill in Washington.
Republican House Speaker John Boehner later expressed disappointment over  President Obama's position. 

"This isn’t about me and, frankly, it’s not about Republicans.  This is about saving the future for our kids and our grandkids, and the only way this is going to happen is to, in fact, have a conversation.  So, it’s time to have that conversation. Not next week, not next month, the conversation ought to start today. And I’m hopeful that whether it’s the president or Democrat leaders here in Congress, we can begin that conversation."

Boehner said the debt limit has always been fair game for bargaining, and that the United States cannot keep spending money it does not have.

The U.S. Treasury expects to exhaust its remaining borrowing capacity under the current $16.7 trillion limit by October 17.

The U.S. government shut down all but essential services last week when Congress could not pass a funding bill.  Hundreds of thousands of government workers are still furloughed and many important services remain unavailable.  

The shutdown began when congressional Democrats refused to go along with Republican demands to defund the president's health care program.

You May Like

Republican Majority in Congress Off to Rough Start

Standoff over Homeland Security funding exposes philosophical, tactical problems within party More

Pakistan Blocks Baloch Activist from US Trip

Human Rights Commission of Pakistan slams Islamabad officials for stopping people from leaving country to attend human rights conference More

Video Muslims Long Thrived in North Carolina Before Students Killed

Idyll shattered February 10, when three Muslim university students living in Chapel Hill were gunned down by a neighbor More

ILO: Women Still Losing Out in Global Work Place

International Labor Organization says women are marginally better off now than they were 20 years ago More

This forum has been closed.
Comment Sorting
Comments
     
by: peter from: grand camen island
October 13, 2013 12:18 PM
The u.s. Is crashing...hey where can I get a higher paying job? I know a high paying government job tax payer funded job...


by: uwa odim from: nigeria
October 12, 2013 6:51 AM
wath is wrong with U Americains ? Wath do U want other countries to learn from U?

by: Lorie from: Florida
October 10, 2013 7:57 AM
Allot of us depend on our social security to live on. what is the government going to do to help us.

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Muslims Long Thrived in N Carolina Before Slaying of 3 Studentsi
X
Jerome Socolovsky
March 05, 2015 9:04 PM
The killings of three Muslim students in North Carolina early last month came as Muslims across the United States have felt under siege, partly as a result of terrorist attacks being committed internationally in the name of their faith. But Muslims have long thrived in university cities in this part of the American South. VOA's Jerome Socolovsky reports.
Video

Video Muslims Long Thrived in N Carolina Before Slaying of 3 Students

The killings of three Muslim students in North Carolina early last month came as Muslims across the United States have felt under siege, partly as a result of terrorist attacks being committed internationally in the name of their faith. But Muslims have long thrived in university cities in this part of the American South. VOA's Jerome Socolovsky reports.
Video

Video Fuel Shortages in Nigeria Threaten Election Campaigns

Nigeria is suffering a gas shortage as the falling oil price has affected the country’s ability to import and distribute refined fuels. Coming just weeks before scheduled March 28 elections, the shortage could have a big impact on the campaign, as Henry Ridgwell reports for VOA.
Video

Video Report: Human Rights in Annexed Crimea Deteriorating

A new report by Freedom House and the Atlantic Council of the United States says the human rights situation in Crimea has deteriorated since the peninsula was annexed by Russia in March of last year. The report says the new authorities in Crimea are discriminating against minorities, suppressing freedom of expression, and forcing residents to assume Russian citizenship or leave. Zlatica Hoke has more.
Video

Video 50 Years Later African-Americans See New Voting Rights Battles Ahead

Thousands of people will gather to mark the 50th anniversary of a historic civil rights march on March 7th in Selma, Alabama. In 1965, dozens of people were seriously injured during the event known as “Bloody Sunday,” after police attacked African-American demonstrators demanding voting rights. VOA’s Chris Simkins introduces us to some civil rights pioneers who are still fighting for voting rights in Alabama more than 50 years later.
Video

Video Craft Brewers Taking Hold in US Beer Market

Since the 1950’s, the U.S. beer industry has been dominated by a handful of huge breweries. But in recent years, the rapid rise of small craft breweries has changed the American market and, arguably, the way people drink beer. VOA’s Jeff Custer reports.
Video

Video Video Claims to Show Shia Forces in Iraq Executing Sunni Boy

A graphic mobile phone video is spreading on the Internet, claiming to show Iraqi forces or Shia militia executing a handcuffed Sunni boy. Experts have yet to verify the video, but already Islamic State followers are publicizing it across social media, playing on deep-rooted sectarian fears. VOA’s Jeff Seldin reports.
Video

Video Ukrainian Authorities Struggle to Secure a Divided Mariupol

Since last month's cease-fire went into effect, shelling around the port city of Mariupol has decreased, but it is thought pro-Russian separatists remain poised to attack. For the city’s authorities, a major challenge is gaining the trust of residents, while at the same time rooting out informants who are passing sensitive information to the rebels. Patrick Wells reports for VOA.
Video

Video Volunteer Gauge-Watchers Help Fine-Tune Weather Science

An observation system called CoCoRaHS is working to improve weather science, thanks to thousands of volunteers across the country who measure precipitation in their own backyards, then share their data through the Internet. VOA's Shelley Schlender reports.
Video

Video NASA Spacecraft Approaches a Dwarf Planet

NASA’s Dawn spacecraft will make history on Friday, March 6, when it becomes the first man-made object to orbit a dwarf planet named Ceres. It is located in the asteroid belt between Mars and Jupiter, almost 500 million kilometers from Earth. Among other objectives, Dawn will try to examine two mysterious bright white spots detected on the planet’s surface. VOA’s George Putic has more.
Video

Video Young Muslims Radicalized Online

Young Muslims are being radicalized ‘in their bedrooms’ through direct contact with Islamic State or ISIL fighters via the Internet, according to terror experts. There are growing concerns that authorities and Internet providers are not doing enough to counter online extremism - which analysts say is spread by a prolific network of online supporters around the world. Henry Ridgwell reports from London.
Video

Video Positive Messaging Transforms Ethiopia's Image

Ethiopia was once known for famine and droughts. Now, headlines more often point to its fast-growing economy and its emergence as a regional peacemaker. How has Addis Ababa changed the narrative? VOA's Marthe van der Wolf reports.
Video

Video Answers Elude Families of MH370 Passengers

For the families on board Malaysia Airlines flight MH370, an airline official’s statement nearly one year ago that the plane had lost contact with air traffic control at 2:40 AM is the only thing that remains confirmed. William Ide reports.

All About America

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More