Subscribe Register Login

Friday, July 25, 2014, 8:52 a.m.
Top Picks - Arkansas Daily Deal

Obama warns against another debt-ceiling fight

By The Associated Press

This article was published December 5, 2012 at 11:13 a.m.

president-barack-obama-is-introduced-by-jim-mcnerney-chief-executive-officer-of-the-boeing-co-before-speaking-about-the-fiscal-cliff-during-an-address-before-the-business-roundtable-an-association-of-chief-executive-officers-on-wednesday-dec-52012-in-washington

President Barack Obama is introduced by Jim McNerney, chief executive officer of The Boeing Co., before speaking about the "fiscal cliff" during an address before the Business Roundtable, an association of chief executive officers, on Wednesday, Dec. 5,2012, in Washington.

— President Barack Obama warned Republicans on Wednesday against picking another fight over the nation’s debt ceiling, telling business leaders that it’s “not a game that I will play.”

Obama said in remarks to the Business Roundtable that he was aware of reports that Republicans may be willing to agree to higher tax rates on the wealthy as a way to avert the looming “fiscal cliff” and then come back next year with more leverage to extract spending cuts from the White House in exchange for raising the government’s borrowing limit.

“That is a bad strategy for America, it’s a bad strategy for your businesses, and it’s not a game that I will play,” Obama said, recalling the “catastrophe that happened in August of 2011.”

The president cited the prolonged and deeply partisan standoff over raising the U.S. debt limit last year that led the nation to the brink of default for the first time in its history.

If Congress and the White House don’t reach a budget deal, about $1.2 trillion in spending cuts and tax increases will automatically kick in starting Jan. 2, a scenario that’s been dubbed the “fiscal cliff” because it is likely to send the economy back into recession and drive up unemployment.

Meantime, House Speaker John Boehner, R-Ohio, and Republican leaders said Wednesday — prior to Obama’s remarks — that the White House had failed to offer a “balanced approach” that had a chance of clearing either chamber of Congress. “We can’t negotiate with ourselves,” Boehner said.

Read tomorrow's Arkansas Democrat-Gazette for full details.

Comments on: Obama warns against another debt-ceiling fight

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

Displaying 1 - 10 of 37 total comments

Jump to last page >>

HOTDEMN says... December 5, 2012 at 12:10 p.m.

This obstructionist platform the the Republicans have been using to cripple and scare America has already cost them the Presidency and the Senate. If they keep it up they can count on loosing the House in the mid-terms. And Arkansas has once again let itself be tricked into letting the foxes guard what's left of the hen house that the last foxes didn't get. It's no suprise that Fox "News" led the assault.

( | suggest removal )

LB_in_Searcy says... December 5, 2012 at 12:27 p.m.

The continued Tax and Spend of the Democratic party may buy them more votes, but it's sending our country into an economic tailspin. The obstructions are on the side of a president who refuses to negotiate a compromise. It's "his way" or nothing... and that's what we will have... nothing....
And why should anyone want to work? The folks that don't work are being rewarded. Those who do work are paying more taxes and fines and fees next year. "Big Daddy Government" will take care of us all... free everything!
Welcome to America - downgrading itself to a third world country!

( | suggest removal )

SRBROTHERINLAW says... December 5, 2012 at 12:30 p.m.

Not a game he will play???? I wasn't aware that our present state of economics was a game.
What a loser of a president...He should never have been elected to start with. He is such a putz. We have got to quit spending our economy cannot survive at the rate the government isspending and "giving" away money we don't have.

( | suggest removal )

toddm76 says... December 5, 2012 at 1:31 p.m.

IRAQ IS a waste....weapons of mass destruction.....what a waste of funds and HUMAN LIFES...

( | suggest removal )

mamawof9 says... December 5, 2012 at 2:06 p.m.

Who decided it was the taxpayers responsibility to pay everyones bills? I am not referring to SS or Medicare. Most of the people receiving these funds have paid into it for years. I am also not refering to highways , education, etc. I am referring to paying the bills of people who have consistantly made poor choices; the choice not to take advantage to a free education, training, retraining, all funded by the taxpayers, the choice not to put their child/childrens needs before their own pleasures, addictions, and habbits, etc. Until there is more individual responsibility and less "it takes a village", I see no way for the economy to get better. Stop making excuses for poor choices, man up, and do what is needed to improve your individual situation. Stop blaming it on the man/woman who was smart enough to succeed and work on your own success. Our ecomony can improve, one individual at a time.

( | suggest removal )

Jjackk says... December 5, 2012 at 2:09 p.m.

Please, any puppets out there tell me one Republican that has EVER cut the budget or came close to balance one? Makes all you look pretty ignorant when you act like they are fiscally responsible or even gives a crap what concerns you. You people are just the peons they con with their morality issues to vote for wall street greed. Two parties, one system, no change.

( | suggest removal )

Packman says... December 5, 2012 at 3:09 p.m.

Hey Jjackk (Mr. Meoff) - At the risk of accepting your "puppet" premise, have you ever heard of the Contract With America and Newt Gingrich? Bill Clinton likes to take credit, but it was Newt and friends that made it happen. I do feel GW Bush capitulated to liberal demorats on budget issues and he should have allowed the federal government to shutdown anytime the idiots on the other side of the aisle refused to entertain his budget proposals. GW was too nice and tried too hard to please the liberal tax and spenders, and it cost him and us dearly.

I vote we go over the mythological fiscal cliff and stay there through the mid-terms and let the voters sort things out. Who know, maybe after a couple of years taxpayers come to like it.

( | suggest removal )

T6 says... December 5, 2012 at 3:32 p.m.

Oh this President's such a joker! Did I mention he's also a LIAR?
youtu. be/8Pp2HaiGh_U

( | suggest removal )

RonalFos says... December 5, 2012 at 4:40 p.m.

Republicans want their cake and eat it too. They want big cuts but don't want to take responsibility for them with the public.

( | suggest removal )

DontDrinkDatKoolAid says... December 5, 2012 at 6:15 p.m.

Obama wants his cake and eat it himself. He doesn't want to cut spending while taking in more taxes, as with not taking any responsibility for the out come from the public.

( | suggest removal )

Click here to make a comment

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

TOP JOBS

  • Shop person

    sheet metal shop needs exp’d. Shop person able to do lay out...
    PEARCY, AR

  • Climbers&buckettruck

    tree service hiring Tree Climbers & Bucket Truck Operators, ...
    WEST HELENA, AR

  • Burn crew leader

    fire management crew leaderthe Nature Conservancy is seeking...
    LITTLE ROCK, AR

  • Instructors

    The University of Arkansas at Little Rock (UALR), located in...
    LITTLE ROCK, AR

  • Clericalworker/ secretary job

    clericalworker/secretary Job Opening for Clerical worker/Sec...
    PINE BLUFF, AR

Search 829 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online