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Obama: Wall Street should be worried

9:16 AM, Oct 3, 2013   |    comments
Image courtesy: Associated Press
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(USA TODAY) - Investors will be keeping a sharp eye on the markets Thursday after President Obama's comments about Wall Street.

Told by a CNBC interview that Wall Street is "pretty calm" about the government shutdown and political infighting, Obama said: "I think this time is different - I think they should be concerned.

Obama cited concern about possible Republican objections to an increase in the debt ceiling, leading to a government default.

While it's "not unusual for Democrats and Republicans to disagree," Obama also said that "when you have a situation in which a faction is willing potentially to default on U.S. government obligations, then we are in trouble."

Obama also delivered his default warning in a meeting with Wall Street CEOs.

Businesses must be worried about "this constant governing from crisis to crisis," Obama told CNBC. "So in that sense, do we need to break that fever? Absolutely. We have to stop doing that."

USA TODAY

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