CHARLESTON, W.Va. — President Barack Obama is warning of “economic chaos” if the continued political stalemate on Capitol Hill starts affecting the ability of the U.S. to pay its bills beginning next week.

“I don’t know what’s going to happen on Oct. 17, but the perception is bad things are going to happen and, when Wall Street and businesses are worried about it, something could happen,” said West Virginia AFL-CIO President Kenny Perdue.

“Is it going to be the end of the world?  I doubt it.  But is it going to be catastrophic and is it going to go back to what happened in 2008?  It could very well be.”

On Wednesday, President Obama continued to put pressure on U.S. House Republicans to pass bills to raise the debt ceiling and to fully reopen the federal government without GOP policy demands attached.

In an opinion piece published late Tuesday in the “Wall Street Journal,” U.S. House Budget Committee Chair Paul Ryan (R-Wis.) said, to end the stalemate, Democrats and Republicans should focus on “modest reforms to entitlement programs and the tax code.”

Perdue said he sees only one path out of the mess.  “I think we need to sit down and talk and I think we need to, as they say, put their guns at the door, your sabers and knives at the door, let’s sit down and talk and get through this.”

He was a guest on Wednesday’s MetroNews “Talkline” which was Day 9 of the partial federal government shutdown.

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Comments

  • JohnnyG

    Conchop, do you mean the shut down caused by Obama because he absolutely refuses to negotiate? Here's an economics lesson for you.....we're broke. You should e-mail John Boehner and encourage him to hold firm on raising the debt limit until an equal amount of cuts are made in the budget. It's called fiscal sanity. And please, cut the tired, over used term "working man". Most business owners I know (myself included) work at least 20-25% more hours per week than their employees. You ding bat left wingnuts conveniently forget that if it wasn't for us evangelical/rich neocons, there would be no jobs for the poor ol' workin' man.

  • Conchop

    Your ding bat neocon shut down is costing a lot of us "work". You guys should study some more economics and history before you open your silly mouths.

    Taking food off a working mans table so you can display your so called Patriotism and Principles, especially when you have no idea about how wrong you are and how wrong you have been about economics, politics, and conservatism is very un American.

    Most of us are middle class and most of you are being seditious traitors when you support this evangelical/rich neocon shut down.

    Foolishly cost a working man work and money - the favor will be returned ...

  • Independent View

    It is very difficult to find anything meaningful in a statement made by a Union Stooge that he and his union backed Obama to the hilt and continues to do.
    Matbe I would do the same if I received a blanket exemption to Obama care.
    Geez, more blather from a union Libtard.

  • Spell Checker

    This economy is going to tank next week. Get your money out of the bank and fill your gas tank, boys.

    Better safe than sorry.

  • Charleston,WV

    Moody’s response to the gubment shutdown; memo dated Oct. 7 in the Washington Post:

    ” We believe the government would continue to pay interest and principal on its debt even in the event that the debt limit is not raised, leaving its creditworthiness intact,” the memo says. “The debt limit restricts government expenditures to the amount of its incoming revenues; it does not prohibit the government from servicing its debt. There is no direct connection between the debt limit (actually the exhaustion of the Treasury’s extraordinary measures to raise funds) and a default.