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Obama says Republicans must end 'threats' on fiscal impasse

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2013-10-09

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Eight days have passed since the U.S. government shut down‚ but there are no signs of progress‚ as neither side of the political aisle appears willing to back down from their position.
And with the October 17th deadline to raise the 16.7 trillion dollar debt ceiling looming‚ it is crucial for the U.S. government to come to a consensus.
An absence of an agreement on paying America's debts would almost certainly throw financial markets worldwide into chaos.
The Republicans continue to call on U.S. President Barack Obama to negotiate with them over the budget and the debt ceiling.
"There's going to be a negotiation here. We can't raise the debt ceiling without doing something about what's driving us to borrow more money and to live beyond our means."
President Obama on Tuesday said he's willing to hold budget talks with Republicans‚ but reiterated that he's not willing to negotiate.
"The point is‚ I think not only the White House‚ but also Democrats in the Senate and Democrats in the House have shown more than ample willingness to talk about any issues the Republicans are concerned about. But we can't do it if the entire basis of the Republican strategy is we are gonna shut down the government or cause economic chaos if we don't get 100 percent of what we want."
Speaking to reporters shortly after President Obama's speech‚ Speaker John Boehner expressed disappointment about the president's approach.
"What the president said today was‚ if there is unconditional surrender by Republicans‚ he will sit down and talk to us. That is not the way our government works."
On Tuesday‚ House Republicans proposed creating a bi-partisan committee that would tackle the debt ceiling issue.
The proposal was rejected by Democrats‚ who in turn introduced a bill that would raise the debt ceiling with no conditions through 2014.
That proposal‚ however‚ excluded all of the Republicans' demands.
Kim Hyun-bin‚ Arirang News. Reporter : hyunbin@arirang.co.kr

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