Stakes Get Higher as Shutdown Drags On

Ad Feedback

Week two of the partial government shutdown began Monday and neither side is budging. This week the stakes get higher as the Oct. 17 deadline to increase the nation's borrowing quickly approaches.
      
House Speaker John Boehner, R-Ohio, says a default is likely if President Barack Obama won't agree to negotiate.

"The American people expect in Washington, when we have a crisis like this, that the leaders will sit down and have a conversation," the Ohio lawmaker said. "I told my members the other day, there may be a back room somewhere, but there's nobody in it."

"We're interested in having a conversation about how we open the government and how we begin to pay our bills," Boehner added.
     
But the president says there will be no talks as long as Republicans continue attacking Obamacare.

"I mean, essentially what's happened here is Democrats are saying they are prepared to pass a Republican budget for two months while negotiations continue," the president said Saturday.

"We just can't have a whole bunch of other extraneous stuff in it and the obsession with the Affordable Care Act, with 'Obamacare', has to stop," he insisted.
    
Treasury Secretary Jack Lew backed the president's message over the weekend, calling on Congress to "do their job and stop playing with fire."

"It's very dangerous. It's reckless because the reality is, there are no good choices if we run out of borrowing capacity and we run out of cash," Lew told CNN's "State of the Union."

What would happen if the government defaulted? The Wall Street Journal's Stephen Moore addressed that question and more below:

 
    
Last week, the Treasury Department issued a report warning that a default could freeze credit markets, drastically decrease the value of the dollar and skyrocket U.S. interest rates.

"I think it's extremely bad for the president shutting down the government, and he's the one shutting it down because frankly, he's unwilling to compromise. We're willing to negotiate, we're willing to compromise." Sen. Rand Paul, R-Ky., said.

As the government shutdown drags on, there was one more sign Americans are fed up with the politics.
    
A group of veterans forced their way into the Iwo Jima Memorial over the weekend. They knocked over water-filled barricades so their buses could get through.

Meanwhile, the House took at least one step to relieve the financial uncertainty of furloughed federal employees. On Saturday, they approved back pay for those workers. The president and Senate appear willing to sanction the measure.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

Efrem Graham

Efrem Graham

News Anchor & Reporter

Efrem Graham is an award-winning journalist, who comes to CBN News from the ABC owned and operated station in Toledo, Ohio.  He received his master's degree from the Columbia University Journalism School. He also holds a bachelor's degree in English Literature from the Richard Stockton College of New Jersey.  Follow Efrem on Twitter @EfremGraham and "like" him at Facebook.com/EfremGrahamCBN.