Monday, January 14, 2013

Obama On Debt Ceiling: 'We Are Not A Deadbeat Nation'

President Barack Obama issued a strong warning to Republicans on Monday that he will not negotiate over the debt ceiling or allow Republicans to use it as a bargaining chip.

"To even entertain the idea of the United States of America not paying our bills is irresponsible. It's absurd," Obama said in a press conference.

The president also responded directly to Republicans who continue to argue that increasing the nation's borrowing limit only contributes to Washington's spending problem. He repeatedly emphasized that raising the debt ceiling does not authorize any new spending but simply allows the government to continue to pay for obligations to which Congress has already agreed.

House Speaker John Boehner (R-Ohio) on Saturday said a failure to raise the debt ceiling would result in "financial disaster," but reiterated demands that the president agree to spending cuts before a vote.

On Monday, Obama maintained that increasing the debt limit would not represent a concession by Republicans to Democrats, and said he simply would not give in to any demands in exchange for an extension.  POST

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