WASHINGTON, Oct. 14 (Xinhua)-- U.S. President Barack Obama will meet with congressional leaders at the White House on Monday afternoon, as a partial government shutdown entered its 14th day and the threat of a debt default looms.
Obama and Vice President Joe Biden will meet Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker John Boehner and House Minority Leader Nancy Pelosi, the White House said on Monday.
"With only a few days until the government runs out of borrowing authority, the President will make clear the need for Congress to act to pay our bills, and reopen the government," it said.
"The President will also reiterate our principles to the leaders: we will not pay a ransom for Congress reopening the government and raising the debt limit," it added.
The meeting comes as Reid and McConnell have started their talks, searching for a possible deal in the Senate to extend the U. S. debt limit and reopen the federal government.
The negotiations between Obama and House Republicans stalled last week, as a GOP offer of six-week debt ceiling increase in exchange for broader fiscal talks was rejected by Obama, shifting the focus to the Democratic-controlled Senate.
Obama spoke with Pelosi over the phone Sunday, said the White House. "They discussed the way forward on the pressing fiscal matters facing Congress today. They reinforced that there must be a clean debt limit increase that allows us to pay the bills we have incurred and avoid default."
WASHINGTON, Oct. 13 (Xinhua) -- U.S. President Barack Obama Sunday spoke with House Minority Leader Nancy Pelosi over the phone about raising the government's borrowing authority without other conditions attached, or a "clean" debt ceiling increase, the White House said Sunday.
"The President and Leader Pelosi discussed the way forward on the pressing fiscal matters facing Congress today. They reinforced that there must be a clean debt limit increase that allows us to pay the bills we have incurred and avoid default," the White House said in a readout of the phone call. Full story
WASHINGTON, Oct. 14 (Xinhua)-- Nobel laureate Robert Shiller said on Monday that he didn't expect the United States would default on its debt.
"I'm thinking probably nothing big is going to happen. It should be OK," Shiller said at a livestreamed press conference in New Haven, Connecticut, on being awarded the Nobel prize for economics together with two other American scientists Monday. Full story