Countrys Credit Rating in the new year. Each day toward the fiscal cliff is also another day closer to the country maxing out on its borrowing limit. President obama talked to Business Leaders today. The only thing that the debt ceiling is good for as a weapon is to destroy your Credit Rating. Reporter hes worried republicans may re newsto raise the countrys debt ceiling to get their way on spending cuts and risk defaulting on the countrys loans. That is a bad strategy for america. Its a bad strategy for your businesses. And it is not a game that i will play. Reporter republicans are pushing back. Hes the president , not the emperorer. Reporter fiscal cliff negotiations have been at a stand still since monday when republicans proposed raising revenue by closing tax loopholes, not by raising rates on the rich as the president has insisted. Were not insisting rates just out of spite, but rather because we need to raise a certain amount of revenue. We cant just keep borrowing money, raisi
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