Mark's Feed
Sep 30, 2013

Raising U.S. debt cap unilaterally would be suspect -White House

WASHINGTON, Sept 30 (Reuters) – The White House on Monday
sought to quash any possibility that President Barack Obama
would raise the U.S. debt ceiling by himself should Congress
fail to do so before a mid-October deadline, as some have
suggested he should.

The U.S. Treasury Department has said it will exhaust the
nation’s $16.7 trillion borrowing limit in less than three
weeks. Unless Congress raises the cap, the government would go
into default, which the administration and most analysts say
would deal a disastrous blow to the U.S. and the global economy,
where the value of U.S. government debt is sacrosanct.

Sep 27, 2013

Obama to House Republicans: Don’t burn down the house over fiscal fight

WASHINGTON, Sept 27 (Reuters) – President Barack Obama
warned congressional Republicans on Friday they were on the
brink of triggering a government shutdown and a historic debt
default and urged them not to “burn down the house” to try to
extract budget concessions from him.

Obama made an appearance in the White House briefing room to
push for Congress to end its infighting as twin deadlines loom:
The federal government will run out of cash on Tuesday unless
Congress approves a spending bill to keep it open, and will
default on its debts if the U.S. borrowing limit is not extended
by Oct. 17 at the latest.

Sep 27, 2013

As critical phase near, Obama stumps for healthcare law

WASHINGTON (Reuters) – President Barack Obama visits a local college on Thursday to promote his signature healthcare program as it nears a critical enrollment phase, even as the law faces stiff political opposition and a wary public.

In remarks at Prince George’s Community College in suburban Maryland, Obama will seek to focus attention on the sign-up period for health insurance under the Affordable Care Act, popularly called “Obamacare.” Starting on Tuesday, Americans who lack insurance will have six months to shop online for health coverage.

Sep 26, 2013

Obama sharply critical of Republican opponents of healthcare law

, Sept 26 (Reuters) – U.S. President Barack Obama
lashed out at Republican opponents of the healthcare law he
pioneered on Thursday ahead of a key deadline for enrollment and
vowed that he would stop attempts to get the program bogged down
in an ongoing budget stalemate.

In a feisty speech at a Washington-area college, Obama
defended the 2010 Affordable Care Act against Republican critics
who say it is an example of government gone too far.

Sep 18, 2013

White House official says Yellen front-runner for Fed chief

WASHINGTON (Reuters) – A White House official said on Wednesday that Federal Reserve Vice Chair Janet Yellen was front-runner for the top job at the U.S. central bank when Ben Bernanke steps down, a shift in strategy after former economic adviser Lawrence Summers withdrew from consideration.

With the end of Bernanke’s term looming in January and a compressed congressional calendar through the end of the year, President Barack Obama is expected to move forward quickly with a nomination. White House spokesman Jay Carney said on Monday the announcement could come as soon as next week.

Sep 18, 2013

Obama to ask business leaders to push Congress to raise debt limit

WASHINGTON (Reuters) – President Barack Obama appealed to business leaders on Wednesday to urge Congress to approve an increase in the U.S. debt limit without any conditions attached and avoid a default that is possible as early as mid-October.

“It is going to be important for all of you over the next several weeks to understand what’s at stake and to make sure that you are using your influence in whatever way we can to get back to what used to be called regular order around here,” Obama told the Business Roundtable.

Sep 16, 2013

Obama says he will not negotiate with Congress on debt ceiling

WASHINGTON (Reuters) – President Barack Obama warned Republicans in Congress on Monday that he will not negotiate over an extension of the U.S. debt ceiling as part of a budget battle that will soon dominate Washington, with a deadline fast approaching.

Pivoting to domestic policy after devoting weeks to the crisis in Syria, Obama scolded his political opponents for threatening a government shutdown and attempting to attach conditions to funding the budget for the 2014 fiscal year that begins October 1.

Sep 15, 2013

Former Obama aide Summers withdraws from Fed chair consideration

WASHINGTON (Reuters) – Lawrence Summers, a former top economic aide to President Barack Obama and a Treasury secretary under President Bill Clinton, has withdrawn from consideration to succeed Ben Bernanke as Federal Reserve chairman, the president said on Sunday.

“Earlier today, I spoke with Larry Summers and accepted his decision to withdraw his name from consideration for Chairman of the Federal Reserve,” Obama said in a statement.

Sep 15, 2013

Obama will deal on budget, not on debt limit -ABC interview

WASHINGTON, Sept 15 (Reuters) – President Barack Obama, in
an interview broadcast on Sunday, blamed conservative
Republicans for a stalemate on the budget and insisted that
while he is willing to haggle over taxes and spending, he will
not make a deal would that would impose conditions on increasing
the nation’s debt limit.

With a possible government shutdown looming in two weeks,
and the threat of a U.S. debt default as early as mid-October,
Obama said On ABC’s “This Week with George Stephanopoulos” that
it is up to lawmakers to work out a budget.

Sep 12, 2013

Obama says is shifting to domestic priorities from Syria focus

WASHINGTON (Reuters) – President Barack Obama said on Thursday he is shifting his focus to domestic priorities from a tense period during which he sought congressional approval to use military force against Syria for its suspected use of chemical weapons.

“Even as we have been spending a lot of time on the Syria issue and making sure that international attention is focused on the horrible tragedy that occurred there, it is still important to recognize that we’ve got a lot more stuff to do here in this government,” the president said before a meeting with his Cabinet at the White House.

    • About Mark

      "Mark Felsenthal is a Reuters White House correspondent who covered Barack Obama's re-election in 2012 and the fiscal crisis that immediately followed. Since joining Reuters in 2001, he has written about monetary policy, currency wars, and the housing market meltdown."
    • Follow Mark