President Obama on Monday reiterated the dire consequences to the American and in turn global economy should Congress fail to raise the debt ceiling in the coming months.
“Raising the debt ceiling does not authorize more spending,” Obama said at a White House press conference.
“The financial well being of the American people is not leverage to be used,” he added, signaling to the Republican opposition. “The full faith and credit of the United States of America is not a bargaining chip. And they had better choose quickly because time is running short.”
