President Obama used his weekly radio address to reject the latest offer from House Republicans to end the fiscal stalemate. The outline of their proposal was released Friday and would have reopened government through December and lifted the debt ceiling for six weeks.
“It wouldn’t be wise, as some suggest, to just kick the debt ceiling can down the road for a couple months, and flirt with a first-ever intentional default right in the middle of the holiday shopping season,” Obama said in his address.
“Because 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,” Obama continued. “Students paying for college. Newlyweds buying a home,”