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Budget movement in Washington?

By Mark Hamrick · Bankrate.com
Tuesday, October 8, 2013
Posted: 4 pm ET

Speaking with reporters for about an hour today, President Barack Obama said he'd be willing to negotiate with members of Congress on a long-term deal, but he's demanding that lawmakers first reopen the government and raise the debt ceiling. Regarding that, he's willing to support a temporary extension of the debt limit and a short-term budget measure.

Referring to a similar stalemate that averted a shutdown in 2011, Obama said: "We can't afford these manufactured crises every few months."

Obama said he's "absolutely willing to negotiate," but added, "What will happen is that we won't agree on everything. The parties are divided on a lot of big issues right now."

On the looming possibility of an unprecedented default, Obama said that "the most valuable thing we have is America's creditworthiness." He said, "We're not going to pay a ransom for America paying its bills." Among the obligations put at risk, Obama mentioned Social Security checks and benefits for disabled veterans.

Earlier in the day, Speaker John A. Boehner said he's "trying to do everything [he] can to bring people together and have a conversation."

Do you think a short-term deal is the solution to the problems in Washington?

Follow me on Twitter: @hamrickisms.

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