Obama Says Wall Street Should Be Worried

President Obama told CNBC that while political gridlock is nothing new, “this time I think Wall Street should be concerned.”

Said Obama: “When you have a situation in which a faction is willing to default on U.S. obligations, then we are in trouble.”

He added: “I am exasperated with the idea that unless I say that 20 million people, ‘you can’t have health insurance, they will not reopen the government.’ That is irresponsible. If we get into the habit where one party is allowed to extort, … then any president who comes after me we be unable to govern effectively.”