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Published: Friday 30 August, 2013

online designer fashion online designer fashion ?Obama paints nightmare vista of US debt default



In a political broadside delivered at a surprise press conference at the White House, the president said he would not negotiate with



Republicans over raising the $16.4 trillion 12.25tn debt limit, accusing them of risking blowing up the US economy because of their absolutist positions on spending.



Obama declared. The financial wellbeing of the American people is not leverage to be used. The full faith and credit of the United States of America is not a bargaining chip.



The presidents move came as a number of leading voices in theHouse of Representatives suggested that Republicans were prepared to let the US default in order to force deep spending cuts on the White House.



Weve got to break the h online designer fashion abit of negotiating through crisis over and over again, Mr Obama added, recalling how the last time the



US Congress fought over raising the



debt ceiling in 2011, the US suffered its firstever debt downgrade by ratings agencies.



M online designer fashion r Obama said that he had already agreed to a total of $2.5tn 1.8tn in cuts and additional revenues over the next 10 years. However, he added he absolutely would not tolerate the linkage of the wider debate on fixing Americas finances with raising the debtceiling.



What I will not do is to have that negotiation with a gun at the head of the American people, he said. Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire.



Interest rates would spike for anybody who borrows money, every homeowner with a mortgage, every student with online designer fashion a college loan, every small business owner who wants to grow and hire, he said. Daily Telegraph, London online designer fashion

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