The President today framed the standoff as the fault of his political opponents and warned of economic chaos.
During an hour-long session with reporters, President Obama said he is willing to negotiate with Republicans but not while the government is shutdown and there is a risk of default if the debt ceiling is not raised.
The President spoke with House Speaker John Boehner earlier today, but the two sides remain at odds. It's not just about the partial government shutdown, as lawmakers have until next Thursday to agree on raising the nation's borrowing limit.
"We can't raise the debt ceiling without doing something about what's driving us to borrow more money and live beyond our means," said Speaker John Boehner. "The idea we should continue to spend money that we don't have we don't have and give the bill to our kids and grandkids would be wrong."
This might sound familiar as the House is putting together a twenty member bipartisan-bicameral supercommittee, another attempt after the 2011 supercommittee failed to reach any agreement.