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Obama: Us Debt Talks Failure 'could Restart Recession'

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Obama: US debt talks failure 'could restart recession'

President Obama: "If not now, when?"

US budget talks end with no deal Obama takes $4tn budget gamble The US budget saga (continued) Failure to raise the US debt ceiling could trigger another recession and throw millions out of work, President Barack Obama has said.

Mr Obama is struggling to marshal support for a budget package that would include some $4tn (£2.5tn) of cuts.

But ahead of renewed budget talks with Republicans on Monday, Mr Obama said the stalemate would be resolved within a "reasonable period of time".

The US risks defaulting on its debts on 2 August, when the budget runs out.

Speaking before his meeting with Republicans over the nation's federal budget, Mr Obama said it would be "not acceptable" for lawmakers to fail to raise the US debt ceiling.

"We don't risk US default on our obligations because we can't put politics aside," the president said.

more at link.............

What can possibly go wrong?

Edited by Maddog21

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'could restart recession'

Restart? :blink:



Can I have a pint of whatever he's on?

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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