[Posted at 12:09 p.m. ET] Risking the nation's credit standing by using the debt ceiling debate to force spending cuts would endanger economic recovery and goes against the nation's founding principles and the will of the people, President Barack Obama said Monday at a news conference.
"What I will not do is to have that negotiation with a gun at the head of the American people," he said.
Obama added that demands by congressional Republicans that a debt ceiling increase must be accompanied by dollar-for-dollar spending cuts is an expectation that is "impossible to meet without doing severe damage to the economy."
You can follow the rest of the news conference live or by reading our Political Ticker live blog.
[Posted at 11:54 a.m. ET] The president said he continues to support an assault weapons ban, stronger background checks on gun purchasers and a ban on high-capacity magazines.
[Posted at 11:48 a.m. ET] President Obama is talking about the economy and gun violence.
The nation is "poised for a good year - if we make smart decisions and sound investments and as long as Washington politics don't get in the way of America's progress," President Barack Obama said in a news conference Monday summing up his first four years in office.
"America cannot afford another debate with this Congress about whether they should pay bills they have already racked up."
[Posted at 11:48 a.m. ET] President Obama is taking questions now. You can watch the news conference live here.
[Posted at 9:23 a.m. ET] The White House just updated President Obamaâ€™s schedule for today with news that he will hold a news conference in the East Room at 11:15 a.m. ET.
You'll be able to watch on CNN andÂ CNN.comÂ as well as CNN's Mobile apps.
Probly too funny.
We have trillions in national resources we are just giving away for pennies on the dollar. Time to demand a bigger share in what belongs to the nation in the first place. Time to go knocking a few giant corporations over the head, too.
If we demand and recieve any bigger of a share, our gutz will explode.
Several of my seriousies posted, but were later deleted.
Perhaps if I just told jokes they wouldn't even post.
Obamacare was an ingenious idea that allowed for candidate Obama to recieve votes from those Obamacare REALLY goes after: millions of illegal employers SAPPING our economy.
suppose you give your daughter a credit card with a spending limit. She then reaches the spending limit and asks for more. What would be your response as a responsible parent? It's the same thing with Obama. Just pay the dang bills before demanding more. That would make too much sense tho wouldn't it?
So true..... obama must read this....sorry to anyone working for the govt programs but they have to go away to bring our country out of debt... i can not be in debt and take 50 loans on from china russia and the uk what happens when they want there money back and we cant pay??????????
Rather than employing, say, young black citizens, millions of illegal employers "employ" illegal workers.
These are among those Homeland Security Prisons are being built for. Millions of legal jobs will become available once the jynchpins of illegal workers are unhinged.
Illegal reform in the future, for sure. The illegal immigrants now have to use the Reagan Healthcare Act- just go to the emergency room. the emergency rooms will be less crowded under Obamacare.
S kel. Don't address jerrysues comment but only insult her. Some people shouldn't be allowed on the Internet
When ya need a lie to get what ya want tell a big one, the nations gounding principlesÂż
The government was a debit economy, whereby if you passed a bill you either had the funds in hand or you passed a tax to pay for it in the bill itself
BUILD A BRIDGE then add a toll tax to fund it. Build new side walks for downtown add a tax on buisness to pay for it.
You should not pass a bill that says we will later find a way to pay for it.
ESspecially in the times of today where we have to borrow the money in the first place.
Health care bill is exactly that a bill that you hope you have enough cash to pay last months bill with.and if you don't you either borrow at interest or tax the people more to pay for it or cut the number of costly services out of coverage.
If you build a house and keep filling it to the rafters with IOU's then maybe you havetoo damn many bills it isn't the cielings fault.
America can not afford you Mr. President, you failed to get a plan together to reduce the spending..... Time for a no partisan group of Citizens be given a say in this, stop saying WE, not all back you....
You are clueless.
I would have a beer with the President and first lady.
Lmao me too Scottish Mama and i dont even drink! And welcome back by the way, weve missed you.
We already have gone thru this qhen nicksom was in office and he had almost depleted our natons gold in fort nox..he was froced to put that debt on the american doller back then and im worried histiry is repeating itself and half of america voted for this guy....Agen.....the elction was riged just in militery polls 200,000 votes went unacounted for.. and were not able to be used in this years elction and all us american dont care huh... god the stupidity of humas...