President Obama warned Republicans on Wednesday against starting another fight about the nation's debt ceiling, as Congress debates what to do about the impending fiscal cliff. Obama said that he is aware of reports that Republicans may be willing to agree to higher tax rates on the wealthy as a way to avert the looming cliff, and then come back next year with more leverage to extract spending cuts from the White House in exchange for raising the government's borrowing limit. "That is a bad strategy for America, it's a bad strategy for your businesses and it's not a game that I will play," Obama said, citing the prolonged debate over raising the debt limit last year that led the nation to the brink of default.
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