Obama himself voted against raising the debt ceiling
when he was a senator in 2006.
While a quick resolution to the shutdown would be a positive for the economy, and arguably for equities, the shutdown still represents less of a risk than the possibility of a debt ceiling
"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."
While the shutdown itself is unlikely to cause major disruption in the markets, a fight over the debt ceiling
He recalled the damage caused by the last debt ceiling
debate, when Standard & Poor's removed the U.S.
17 debt ceiling
deadline undoubtedly will become part of an "even more complicated narrative," with three new dynamics:
Treasury Secretary Jacob Lew told Congress last month that the federal government will reach its debt ceiling
of 16.7 trillion U.S.
Jones blamed both parties' behavior over the years for the need to raise the debt ceiling
but said she supports a "deal that employs significant spending cuts and budget controls to rein in out of control spending and debt while at the same time avoiding an irresponsible and catastrophic default."
Meanwhile, Speaker Boehner has offered a two-stage plan to raise the debt ceiling
by upwards of $2.5 trillion but it would require the White House to accept much deeper spending cuts than he was negotiating only last week with President Obama.
''The sources of the problems currently talked about (in the currency market) are in Europe, with its debt crisis, and in the United States, with the debt ceiling
issue,'' he said.
PRINCETON, NJ -- Gallup finds that Americans, by a 42% to 22% margin, are more likely to want their representative in Congress to vote against rather than for an increase in the federal debt ceiling
, with 35% saying they have no opinion.
Treasury says it will be forced to default on its obligations if Congress does not raise the $14.3 trillion debt ceiling
, which caps how much it can borrow, by Aug.