Obama: I won't negotiate on debt limit
© Getty Images

President Obama is pressing lawmakers to raise the federal debt ceiling and says he won't be drawn into negotiations.

"When it comes to the debt ceiling, we're not going back there," Obama said during a press conference in the State Dining Room of the White House on Friday.

His comments come after Treasury Secretary Jack LewJack LewOne year later, the Iran nuclear deal is a success by any measure Chinese President Xi says a trade war hurts the US and China Overnight Finance: Price puts stock trading law in spotlight | Lingering questions on Trump biz plan | Sanders, Education pick tangle over college costs MORE set a Nov. 5 deadline on Thursday for raising the debt limit to avert a potential default on current loans. That gives Congress just a few weeks to hammer out an agreement on the current $18.1 trillion limit.

ADVERTISEMENT
Obama acknowledged that Speaker John BoehnerJohn BoehnerLast Congress far from ‘do-nothing’ Top aide: Obama worried about impeachment for Syria actions An anti-government ideologue like Mulvaney shouldn't run OMB MORE's (R-Ohio) plans to leave Congress in October will complicate budget negotiations with congressional leaders, but said he believed there is a path to an agreement.

"I do think there is still a path for us to come up with a reasonable agreement that raises the spending caps above sequester to make sure that we can properly finance both our defense and non-defense needs, that maintains a prudent control of our deficits and that we can do that in short order," Obama said.

"It's not that complicated. The math is the math," he added, saying he has spoken with BoehnerJohn BoehnerLast Congress far from ‘do-nothing’ Top aide: Obama worried about impeachment for Syria actions An anti-government ideologue like Mulvaney shouldn't run OMB MORE, Senate Majority Leader Mitch McConnellMitch McConnellTrump to meet with congressional leaders Monday: report Meet Trump's secret weapon on infrastructure Senate confirms first nominees of Trump era MORE (R-Ky.), Senate Minority Leader Harry ReidHarry ReidFranken emerges as liberal force in hearings GOP eyes new push to break up California court The DC bubble is strangling the DNC MORE (D-Nev.) and House Minority Leader Nancy Pelosi (D-Calif.).

Congress on Wednesday passed a short-term bill to keep the government funded through Dec. 11.

Obama said Friday that "extraneous issues" should be kept out of budget talks, mentioning the current fight over funding Planned Parenthood.

"You can't have an issue like that potentially wreck the entire U.S. economy, any more than I should hold the entire budget hostage to my desire to do something about gun violence," Obama said during the press conference, where he talked about gun control in the aftermath of Thursday's mass shooting at an Oregon college.

"There are some fights that we fight individually," Obama said.