U.S. Shutdown In Its Third Day; Obama Tells Congress: ‘End This Farce’ [Photo]
Today marks the third day of the U.S. government shutdown prompting growing concerns of wider economic consequences. President Obama has challenged Republicans to “end this farce” by calling a straight vote on a spending bill. Looming fears abound that the current crisis in Congress would merge with a more complex problem of raising the federal debt limit later on in the month.
“My simple message today is ‘Call a vote,'” Obama said in a speech at a construction company in Maryland. “Take a vote. Stop this farce, and end this shutdown right now.”
Failing to raise the debt ceiling would cause far more problems for the U.S.’ economy in the immediate future. In a report on Thursday detailing the potential economic impact of a default, the Treasury Department warned, “The negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.”