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Obama: GOP ’grandstanding’ in budget battle

WASHINGTON — President Barack Obama says a failure to increase the government’s borrowing authority would effectively shutter the economy.

Obama told reporters at the White House Friday that would have a ‘profound destabilizing effect’ on the U.S. and global economies.

He accused Republicans of “political grandstanding” and said what they really care about is “appeasing the tea party.”

The government faces two looming deadlines. One is a potential government shutdown Oct. 1 if Congress doesn’t approve a short-term spending bill. The other is a debt limit around Oct. 17 if Congress doesn’t increase the government’s borrowing authority.

Obama says failure to raise the debt ceiling would be far more dangerous than a government shutdown.

Obama has vowed not to negotiate on the debt ceiling.



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North and South Korean leaders hold surprise 2nd summit

UPDATED: 5:42 p.m.

updated  North Korean leader Kim Jong Un and South Korean President Moon Jae-in met Saturday for the second time in a month, exchanging a huge bear hug and broad smiles in a surprise summit at a border village to discuss Kim’s potential meeting with President Donald Trump and ways to follow through on the peace initiatives of the rivals’ earlier summit.