'Enough Is Enough,' Obama Says, Calling For Deal (You're right Obama, now resign)

npr ^ | 7/14/2011 | AP

[tobyhill]

Amid new warnings and fresh signs of strain, President Barack Obama and congressional leaders are entering a perilous debt-limit endgame. The president, declaring "enough is enough," is demanding that budget negotiators find common ground by week's end even as the Senate's top Republican gained followers for his own last-ditch scheme to avoid a government default.

The continuing impasse was unsettling Wall Street, which up to now had performed as if an increase in the debt ceiling was not in doubt. And the looming Aug. 2 cutoff for action was creating new tensions between the president and Republican leaders.

Moody's Investors Service said Wednesday it will review the government's credit rating, noting there is a small but rising risk that the government will default on its debt. If Moody's were to lower the ratings, the consequences would ripple through the economy, pushing up rates for mortgages, car loans and other debts. A Chinese rating agency, Dagong Global Credit Rating Co., also warned of a possible downgrade.

Federal Reserve Chairman Ben Bernanke, addressing lawmakers, warned Wednesday that not increasing the nation's debt ceiling and allowing the nation default on its debt would send "shock waves through the entire financial system."

And in the cauldron of the White House Cabinet Room, Obama and top lawmakers bargained for nearly two hours Wednesday on spending cuts. Obama curtly ended the session when House Majority Leader Eric Cantor, R-Va., urged Obama to accept a short, monthslong increase in debt instead of one that would last through next year's presidential election.

"Enough is enough. ... I'll see you all tomorrow," Obama said, rising from the negotiating table and leaving the room, according to several officials familiar with the session.

[bgill]

Such a whiny baby. Next he’ll be stomping his feet and holding his breath until he turns blue. That behavior may have gotten him the moon when he was two years old but he’s an adult and should act like one.

[6SJ7]

Wow. Odrama worked two whole hours before storming out of the room. Probably the hardest he’s worked in his life.

Get thee to thine links, my liege!

[Arrowhead1952]

The president, declaring "enough is enough," is demanding that budget negotiators find common ground by week's end

Hey Republicans. Do you remember WHY we sent you to DC last Nov??
Tell Ø "We win, you lose"!

[mongo141]

FK That G-D Kenyon Punk! I suspect that him and his followers have raided the SS trust and this is what all the vague threats from him and that Slime ball Harry are about. If that is case it will not only bring his residency down but also the country down...