This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-us-canada-24375591
The article has changed 6 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Obama warns of US default danger | Obama warns of US default danger |
(35 minutes later) | |
US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt. | |
He said he would not hold budget talks with Republicans until they allowed the US government to reopen and pass a bill to raise the US borrowing limit. | |
He said he was "exasperated". | He said he was "exasperated". |
The US government closed non-essential operations on Tuesday after Congress failed to reach a new budget deal. | The US government closed non-essential operations on Tuesday after Congress failed to reach a new budget deal. |
"I think it's important for them to recognise that this is going to have a profound impact on our economy and their bottom lines," Mr Obama said in an interview on CNBC following a meeting with US financial sector leaders. | |
Mr Obama said he was unwilling to negotiate "with the extremist wing of one party" as the 17 October deadline to raise the nation's borrowing limit nears. | |
"The message I have for the [Congressional] leaders is, as soon as we get a clean piece of legislation that reopens the government... until we get that done, until we make sure that Congress allows [the Department of the Treasury] to pay for things that Congress itself already authorised, we are not going to engage in a series of negotiations," he said. | |
Mr Obama said Republican House Speaker John Boehner was unable to say no to "a small faction" of the Republican Party, and if a few people "are allowed to extort concessions" then any president who followed him would find himself "unable to govern effectively". |