President Barack Obama on Saturday came out against a proposal to extend for just weeks the country’s authority to borrow money as crisis talks with Republicans entered the 12th day.
“It wouldn’t be wise, as some suggest, to just kick the debt ceiling can down the road for a couple of months, and flirt with a first-ever intentional default right in the middle of the holiday shopping season,” Obama said in his weekly radio and video address.
Damage “to America’s sterling credit rating wouldn’t just cause global markets to go haywire; it would become more expensive for everyone in America to borrow money.”
One Republican idea that was floated to stave off a disastrous US debt default and end a partial government shutdown included a temporary extension to US borrowing authority — without which Washington could begin to default on its obligations for the first time in history after October 17.
The government, shuttered since October 1, will be fully reopened, possibly on an interim basis, and there will be some kind of commitment from both sides to work towards an elusive deal to tackle the deficit, rein in spending and possibly reform social programs and some aspects of the tax code.
The White House said earlier in the week that it would be open to a six-week extension of the debt ceiling after October 17.
But, perhaps sensing that it now has the upper hand in the fight, it now appears to be looking for an extension of borrowing authority from the current $16.7 trillion level for a longer duration.
On Friday, White House spokesman Jay Carney said that a rise in the debt ceiling could not be linked to long-term fiscal talks with Republicans, because it could set up repeated threats of default in the coming months.
Deputy national security adviser accused by White House officials of being ‘Anonymous’ may be reassigned
According to a new report from Axios, there's a discussion amongst top Trump officials about reassigning deputy national security adviser Victoria Coates to the Department of Energy from the National Security Council. Coates has been the target of some inside the White House who accuse her of being behind an op-ed in the New York Times -- and later a bestselling book -- which chronicled a resistance movement inside the Trump administration.
Trump is ‘our chief criminal running a crime syndicate out of the West Wing’: Former federal prosecutor
Former federal prosecutor John Flannery is one of the over 1,100 former Justice Department lawyers and prosecutors who signed a letter demanding Attorney General Bill Barr resign after intervening to reduce the sentence of a close friend of President Donald Trump.
Flannery said that the backlash of Barr's intrusion is there are many who feel isolated or intimidated from speaking out against illegal or unethical things they witness.
"What they're doing is trying to erase the parallel case that was just the subject of the impeachment, because what [Roger] Stone is charged with was interfering in our election in 2016," explained Flannery. "And then obstructing the investigation by the Intelligence Committee into that interference, and causing them to lie and threaten and so forth. So, they'd like to erase that."
Ex-Obama adviser offers three essential tips for any Democrat who wants to beat Trump
Dan Pfeiffer, a former adviser to President Barack Obama and current host of the "Pod Save America" podcast, has written a piece in Politico that offers three essential tips for whomever the Democratic Party nominates as its candidate for president.
In particular, Pfeiffer looks at the major mistakes that Sen. Mitt Romney (R-UT) made when he ran against Obama in 2012, and which allowed Obama to win quite handily despite being stuck with an unemployment rate of 8 percent.