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Mon Jan 14, 2013, 12:22 PM

President Obamaís news conference on the debt ceiling, fiscal battles and gun control, Jan. 14, 2013

OBAMA: It turns out the American people agree with me. They listened to an entire yearís debate over this issue. And they made a clear decision about the approach they prefer. They donít think itís fair, for example, to ask a senior to pay more for his or her health care or a scientist to shut down life-saving research so that a multimillionaire investor can pay less in tax rates than a secretary. They donít think itís smart to protect endless corporate loopholes and tax breaks for the wealthiest Americans rather than rebuild our roads and our schools, invest in our workersí skills, or help manufacturers bring jobs back to America.

So they want us to get our books in order in a balanced way, where everybody pulls their weight, everyone does their part. Thatís what I want, as well. Thatís what Iíve proposed. And we can get it done, but weíre going to have to make sure that people are looking at this in a responsible way, rather than just through the lens of politics.

Now, the other congressionally imposed deadline coming up is the so-called debt ceiling, something most Americans hadnít even heard of before two years ago. So I want to be clear about this: The debt ceiling is not a question of authorizing more spending. Raising the debt ceiling does not authorize more spending. It simply allows the country to pay for spending that Congress has already committed to.
OBAMA: These are bills that have already been racked up, and we need to pay them. So, while Iím willing to compromise and find common ground over how to reduce our deficits, America cannot afford another debate with this Congress about whether or not they should pay the bills theyíve already racked up. If congressional Republicans refuse to pay Americaís bills on time, Social Security checks, and veterans benefits will be delayed.
We might not be able to pay our troops, or honor our contracts with small business owners. Food inspectors, air traffic controllers, specialist who track down loose nuclear materials wouldnít get their paychecks. Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire, interest rates would spike for anybody who borrows money. Every homeowner with a mortgage, every student with a college loan, every small business owner who wants to grow and hire.



http://www.washingtonpost.com/politics/president-obamas-news-conference-on-the-debt-ceiling-fiscal-battles-and-gun-control-jan-14-2013-transcript/2013/01/14/9bc1a690-5e65-11e2-90a0-73c8343c6d61_story_1.html



Here's a running transcript for those of you who weren't able to watch.

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Reply President Obamaís news conference on the debt ceiling, fiscal battles and gun control, Jan. 14, 2013 (Original post)
octoberlib Jan 2013 OP
Moonwalk Jan 2013 #1
Indykatie Jan 2013 #2

Response to octoberlib (Original post)

Mon Jan 14, 2013, 12:58 PM

1. Hallelujah! FINALLY he's explaining the debt ceiling in a way people will not only understand...

...but which will make them alarmed when they hear Republicans saying they don't want to raise it.

"You mean...I won't get paid/get my benefits/get good interest rates?" Uh, hello, yes? Are you still on the side of those Republicans who don't want to raise the debt ceiling? Who don't want to pay our bills?

Thank you President Obama for shooting down the misunderstandings that the GOP were relying on there. It was only such misunderstandings which got them any support for holding the debt ceiling hostage. This time around that game is going to make them look like the terrorist they are, not the heroes they claim to be.

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Response to Moonwalk (Reply #1)

Mon Jan 14, 2013, 01:34 PM

2. Education of the Public is Key to the Fight

Too many folks don't understand that the debt ceiling has to be raised to pay for current bills. They think it is being raised to accommodate future spending.

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