WASHINGTON (AP) — President Barack Obama says he will negotiate with congressional Republicans only after they agree to reopen the federal government and after they increase the nation's borrowing authority, which is set to hit its limit in mid-October.
Obama says engaging in deal-making now would leave him and other presidents vulnerable to what he calls extortion by opposition parties.
Obama made his remarks Wednesday in an interview with CNBC.
He blamed the current impasse on, quote, "one faction of one party in one chamber."
He said he would be willing to negotiate long-term budget issues, including savings in big spending programs like Medicare and Social Security, but said he would also want to eliminate tax loopholes to generate revenue to pay for some of his education and infrastructure priorities.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
A White House official says President Barack Obama has invited congressional leaders to the White House Wednesday for a meeting on the government shutdown.
The official says Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker John Boehner, and House Minority Leader Nancy Pelosi have been invited to the meeting. The official says Obama will urge the House to pass a spending bill to allow the government to reopen.
The government shut down when Congress failed to pass a spending bill ahead of a midnight deadline.
The official insisted on anonymity because the person was not authorized to publicly discuss the meeting before it was announced.