President Obama won't negotiate on debt ceiling
There's a new warning from President Barack Obama that he won't negotiate on raising the debt ceiling.
At a news conference Monday, Obama said a failure by Congress to raise the government's borrowing authority would delay payments of benefits to veterans and Social Security recipients. Obama is looking to pin the burden of an unprecedented default on congressional Republicans.
The government has hit its $16.4 trillion borrowing limit and is expected to run out of ways to meet all of its obligations around March 1, perhaps earlier. Republicans want spending cuts in exchange for raising the debt ceiling.
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