{"id":40148,"date":"2013-01-14T09:28:00","date_gmt":"2013-01-14T09:28:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/obama-ready-to-reconcile-over-spending-cuts-and-tax-hikes-but-rules-out-a-shift-from-debt-ceiling-stand\/40138\/"},"modified":"2013-01-14T09:28:00","modified_gmt":"2013-01-14T09:28:00","slug":"obama-ready-to-reconcile-over-spending-cuts-and-tax-hikes-but-rules-out-a-shift-from-debt-ceiling-stand","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/obama-ready-to-reconcile-over-spending-cuts-and-tax-hikes-but-rules-out-a-shift-from-debt-ceiling-stand\/40148\/","title":{"rendered":"Obama Ready to Reconcile Over Spending Cuts and Tax Hikes but Rules Out a Shift From Debt Ceiling Stand"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>In his weekly tapped address to the nation, President Obama said he was willing to find a middle path with the Republicans on the issue of spending cuts and tax increases in coming weeks; but ruled out any compromise on the debt ceiling issue.<\/p>\n<p><span id=\"more-40148\"><\/span><\/p>\n<p>\u201cI will not compromise over &#8230; whether or not Congress should pay the tab for a bill they\u2019ve already racked up,&#8221; said President Obama.<\/p>\n<p>\u201cIf Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again,\u201d added Obama in his weekly recorded address to the nation.<\/p>\n<p>The president also said that political brinkmanship at this juncture would only stall the fragile economy, recounting how policy logjam in 2011 debt ceiling fight adversely affected the economy.<\/p>\n<p>\u201cOur economy can\u2019t afford more protracted showdowns or manufactured crises,\u201d said Obama while adding \u201cthe messy brinksmanship in Congress made business owners more uncertain and consumers less confident.\u201d<\/p>\n<p>Meanwhile, Republicans continued to hold their ground\u2014which is slashing entitlements and other \u201cwasteful expenses\u201d.\u00a0 Dave Camp (Rep. Michigan) on behalf of the GOP said in a weekly public address, \u201cWe must identify responsible ways to tackle Washington&#8217;s wasteful spending.\u201d<\/p>\n<p>The Treasury has just enough money to pay back its obligation until March and if lawmakers in Washington fail to raise the treasury\u2019s present borrowing limit, then the world\u2019s largest economy would not only make a historic default but trigger panic in the global financial markets.<\/p>\n<p>The national debt breached $16.4 trillion (which is the debt-ceiling limit set by congressional leaders) in the last week.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130117135521\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fobama-ready-to-reconcile-over-spending-cuts-and-tax-hikes-but-rules-out-a-shift-from-debt-ceiling-stand%2F40148&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130117135521js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-steady-ahead-of-chinese-gdp-data-silver-prices-edge-lower\/40338\">\nGold Prices Steady Ahead of Chinese GDP Data; Silver Prices Edge Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/futures-flat-ahead-of-bank-of-america-citigroup-earnings\/40335\">\nFutures Flat Ahead of Bank of America, Citigroup Earnings<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/ebay-reports-18-revenue-growth-in-fiscal-q4-ebay\/40333\">\nEBay Reports 18% Revenue Growth in Fiscal Q4 (EBAY)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-inch-lower-outlook-bright-says-thomson-reutersgfms\/40332\">\nGold Prices Inch Lower; Outlook Bright Says Thomson Reuters\/GFMS<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-update-after-hours-january-16\/40322\">\nMarket Update After Hours January 16<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-finish-on-a-mixed-note-6\/40311\">\nStocks Finish on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-finish-marginally-higher\/40310\">\nGold Prices Settle Lower; Silver Prices Finish Marginally Higher<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130117135521im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his weekly tapped address to the nation, President Obama said he was willing to find a middle path with 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