Obama: Shutdown imperils economy
Associated Press
WASHINGTON
President Barack Obama says the economic recovery will stall if Congress can’t agree on spending cuts and avoid a government shutdown.
The current budget expires Friday. That means lawmakers must OK a new spending plan before the March 4 deadline to keep much of the government from running out of money and closing. The Republican-run House and Democratic-controlled Senate are bickering over how much to cut.
“For the sake of our people and our economy, we cannot allow gridlock to prevail,” Obama said Saturday in his weekly address. “I urge and expect them to find common ground so we can accelerate, not impede, economic growth.”