President Barack Obama issued a strong warning to Republicans on Monday that he will not negotiate over the debt ceiling or allow Republicans to use it as a bargaining chip.
"To even entertain the idea of the United States of America not
paying our bills is irresponsible. It's absurd," Obama said in a press
The president also responded directly to Republicans who continue to
argue that increasing the nation's borrowing limit only contributes to
Washington's spending problem. He repeatedly emphasized that raising the
debt ceiling does not authorize any new spending but simply allows the
government to continue to pay for obligations to which Congress has
House Speaker John Boehner (R-Ohio) on Saturday said a failure to raise the debt ceiling would result in "financial disaster," but reiterated demands that the president agree to spending cuts before a vote.
On Monday, Obama maintained that increasing the debt limit would not
represent a concession by Republicans to Democrats, and said he simply
would not give in to any demands in exchange for an extension. POST