Topics: Obamacare

Obama: Wall Street should be 'concerned' about default

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Politics,White House,Barack Obama,Obamacare,Debt Ceiling,Conference Spending,PennAve,Economy,Government Shutdown,Meghashyam Mali,Wall Street

President Obama on Wednesday said Wall Street should be “concerned” about Washington's latest round of fiscal fighting.

“This time, I think Wall Street should be concerned,” the president told CNBC in an interview amid a government shutdown and ahead of a debate on raising the nation’s borrowing limit.

Americans are “tired” of “this constant governing from crisis to crisis,” he added.

The federal government shut down Monday after lawmakers were unable to pass a funding bill.

Republicans tried to use their bills to defund or delay Obamacare, but those efforts were rejected by the Democratically-controlled Senate.

Obama also faces another fiscal fight with the Treasury set to hit the nation’s debt limit on Oct. 17, threatening a default or downgrade to the nation’s credit. Republican leaders want to tie the debt limit to further spending cuts or entitlement reforms. Obama, though, has said he will not negotiate on the debt ceiling.

Earlier in the day, Obama met with financial industry leaders who encouraged Congress to quickly raise the debt limit.

Obama said business leaders needed “to recognize that this is going to have a profound impact on our economy and their bottom lines, their employees and their shareholders.”

The interview came hours ahead of a White House meeting with congressional leaders, where he said he would press them to pass a “clean” continuing resolution.

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