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.
John Bolton ripped Rudy Giuliani as a drug dealer and ‘hand grenade’: report
Then-National Security Advisor John Bolton was reportedly shocked by the shadow foreign policy being conducted by Rudy Giuliani, a top former National Security Council official testified to Congress on Monday, The New York Times reports.
"The effort to pressure Ukraine for political help provoked a heated confrontation inside the White House last summer that so alarmed John R. Bolton, then the national security adviser, that he told an aide to alert White House lawyers, House investigators were told on Monday," the newspaper reported. "Mr. Bolton got into a sharp exchange on July 10 with Gordon D. Sondland, the Trump donor turned ambassador to the European Union, who was working with Rudolph W. Giuliani, the president’s personal lawyer, to press Ukraine to investigate Democrats, according to testimony provided to the investigators."
‘Vladimir Putin has something on Donald Trump’: Ambassador Sherman says the Kremlin must have kompromat
Former Deputy Secretary of State Wendy Sherman concluded on Monday that Russian Federation President Vladimir Putin must have "something" on President Donald Trump.
"The latest reporting from The New York Times indicates that the thousands of troops that we have there, that the president moved, are now trapped. They don’t have an actual way out since Turkey has cut off the roads and the exit routes that they might use and so now there is the question of will there be an airlift? How will we get the U.S. troops out?" MSNBC's Lawrence O'Donnell asked.
"We haven’t had to get troops out like this since the fall of Saigon," Sherman replied. "This is going to be very, very difficult."
Mick Mulvaney implicated by Trump official who testified before Congress on Monday: report
Acting White House chief of staff MicK Mulvaney was implicated by a former top National Security Council official during nine-hours of congressional testimony, The Wall Street Journal reported Monday.
The newspaper reported, "In her testimony, she detailed a July 10 meeting she attended with senior Ukrainian officials, then-National Security Adviser John Bolton, and other U.S. officials in which the U.S. ambassador to the European Union, Gordon Sondland, raised the issue of the investigations, the people said."