Obama warns Wall Street over fiscal crisis
US President Barack Obama sent Wall Street a blunt warning Wednesday that it should be very worried about a political crisis that has shut down the government and could trigger a US debt default.
Source : https://www.marocafrik.com/english/Obama-warns-Wal...
Obama said he was "exasperated" by the budget impasse in Congress, in an interview with CNBC apparently designed to pressure Republicans by targeting the financial community moments after markets closed.
Obama was also set to meet Republican and Democratic leaders for their first meeting since the government's money ran out and it slumped into a shutdown now well into its second day.
Asked whether Washington was simply gripped by just the latest in a series of political and fiscal crises which get solved at the last minute, Obama warned that investors should be worried.
"This time's different. I think they should be concerned," Obama said, in comments which may roil global markets.
"When you have a situation in which a faction is willing potentially to default on US government obligations, then we are in trouble," Obama said.
Obama said he would not negotiate with Republicans on budget matters until House lawmakers pass a temporary financing bill to reopen federal operations and raised the $16.7 trillion dollar debt ceiling.
If the borrowing limit is not lifted by the middle of the month, the US government could default on its debts for the first time in history.
"If and when ... that vote takes place and the government reopens, and if and when they vote to make sure Congress pays our bills on time so America does not default on costs it's already accrued, then I am prepared to have a reasonable, civil negotiation around a whole slew of issues," Obama said.
Obama was also set to meet Republican and Democratic leaders for their first meeting since the government's money ran out and it slumped into a shutdown now well into its second day.
Asked whether Washington was simply gripped by just the latest in a series of political and fiscal crises which get solved at the last minute, Obama warned that investors should be worried.
"This time's different. I think they should be concerned," Obama said, in comments which may roil global markets.
"When you have a situation in which a faction is willing potentially to default on US government obligations, then we are in trouble," Obama said.
Obama said he would not negotiate with Republicans on budget matters until House lawmakers pass a temporary financing bill to reopen federal operations and raised the $16.7 trillion dollar debt ceiling.
If the borrowing limit is not lifted by the middle of the month, the US government could default on its debts for the first time in history.
"If and when ... that vote takes place and the government reopens, and if and when they vote to make sure Congress pays our bills on time so America does not default on costs it's already accrued, then I am prepared to have a reasonable, civil negotiation around a whole slew of issues," Obama said.
Source : https://www.marocafrik.com/english/Obama-warns-Wal...