(CNN) - Treasury Secretary Jack Lew said a U.S. debt default could be catastrophic. But President Barack Obama said Thursday he will not "not negotiate on anything when it comes to the full faith and credit of the United States of America." That is, no negotiating with Republicans.
Yet, the American people support, by a two-to-one margin, a requirement for spending cuts when negotiating more borrowing authority for the government to pay its bills, according to a new Bloomberg News poll.