President Barack Obama spoke with the Wall Street Journal’s CEO Council meeting of nearly 100 chief executives, reiterating that his administration is not “lavishly spending,” and the debt ceiling is more of just a “loaded gun” for politics.
Democrats controlling the Senate proposed Tuesday to avoid future showdowns over the so-called debt ceiling by giving the president authority to authorize additional federal borrowing unless Congress can muster veto-proof margins to block him.
During the lead-up to a compromise by Senate leadership to end the partial government shutdown, more than a dozen senators came and went from Sen. Susan Collins’ office — the hub for the “Gang of 14″ pressing for a compromise to end the stalemate, reopen government and avert a Treasury default.
Lawmakers and strategists from the Republican Party’s establishment are lashing out at tea partyers and congressional conservatives whose unflinching demands triggered the 16-day partial government shutdown and sent the GOP’s popularity plunging to record lows.
It took 16 days, but Congress approved a last-minute deal Wednesday to end the government shutdown and avoid a potential U.S. default.
The Dow drops more than 100 points shortly after the opening bell despite Congress reaching an 11th-hour debt ceiling deal.
Sixteen days into the government shutdown, the Senate and House voted Wednesday evening to end the fiscal stalemate.
Carney stated that the shutdown and debt ceiling deadline fighting are bad for the US and world economy, and the effect of “flirtation” with the debt ceiling and default is “harmful to the American people in all cases.”
Amid a government shutdown, looming US default and partisan bickering in Congress, President Obama was still able to focus on one of the more positive, “cool” things about his job.
Billionaire Warren Buffett says it would be idiocy for the nation’s leaders to allow the United States to default on its bills.