Obama Tells CEOs He Doesn't Believe Another Government Shutdown is Likely

Funds to run out in January

President Obama predicted that there will not be a repeat of last October's 16-daygovernment shutdown when funding runs out again in January.

Speaking at the annual meeting of the Wall Street Journal's CEO Council, Mr. Obama said, "I'd like to believe that the Republicans recognize that was not a good strategy, and we're probably better off with a system in which that threat is not there on a perpetual basis."

He likened the way the debt ceiling works - where Congress must approve an increase whenever the U.S. needs to extend its borrowing authority - to "a loaded gun."

(H/T Charles WT)