President Barack Obama on Saturday insisted that he won’t negotiate with House Republicans over the debt ceiling, accusing them of threatening to plunge the U.S. into default and back into recession by tying the debt limit to their effort to defund his health-care law.
Investors, meanwhile, are poised for fresh market turmoil as politicians hurtle toward the latest budget-related showdown.
In his weekly radio and Internet address, Obama said that won’t happen and “they know it’s not happening.”
Obama has vowed to veto a bill passed by the House of Representatives Friday that would keep the government open through mid-December while also eliminating funding for the health-care law. House lawmakers approved the bill in a 230-189 vote, mostly along party lines.
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