The Ticket

Obama warns Republicans against holding debt hostage

The Ticket

President Barack Obama on Wednesday blasted the idea that Republicans might use next year's debt-limit vote as leverage in current "fiscal cliff" negotiations, saying it won't be entertained by the White House.

"We are not going to play that game next year," the president said to Chief Executive Officers at the Business Roundtable in Washington. "If Congress in any way suggests they are going to tie negotiations to the debt ceiling vote, I will not play that game."

Obama said the country will not default on its debts and "can't afford" to be pushed to the brink of debt once again. Last year, lawmakers fought over raising the debt limit, creating fear the country would default on its obligations.

The fiscal cliff refers to the automatic spending cuts and tax increases set to go into effect Jan. 1.

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