Obama is willing to strike a deal on budget cuts, but not the debt ceiling: A possible government shutdown is only days away as the threat of the U.S. defaulting on its debts could occur as early as mid-October if a deal to raise the debt limit which is currently at $16.7 Trillion isn’t struck. Republicans are stridently seeking further budget cuts, many of which are to Obamacare, which is something Democrats are reticent to compromise on. As has been the trend with this congress, both sides are unwilling to compromise. I agree we need budget cuts, but both parties playing a game of chicken with the debt ceiling could lead to financial turmoil. The debt ceiling is not a bargaining chip, so both sides need to stop using it as one.