WASHINGTON, D.C.—Earlier today, President Obama held his final news conference of his first term. During his speech, he acknowledged that he might not get what he wants from Congress on gun control but he vowed not to negotiate the debt ceiling.
President Obama said, “Raising the debt ceiling does not authorize us to spend more. All it does is say that America will pay its bill and we are not a deadbeat nation.”
Federal bonds were downgraded the last time the nation spoke about the debt ceiling in 2011.
He said, “If Congressional Republicans refuse to pay America’s bills on time, social security checks and veterans benefits will be delayed.”
In less than two months, huge defense and social security cuts will go into effect.
Republicans say they see this as a way to force deeper spending cuts.
Rep. Marsha Blackburn, (R) Tennessee, said, “You know, there is the option of government shutdown. There is an option of raising the debt ceiling in short term increments.”
While the battle over finances is the same rhetoric many Americans have heard for years, the fight over gun control is heating up.
President Obama revealed that he wants universal background checks on those wanting to purchase guns and a ban on large capacity magazines and assault rifles.
He said, “If there is a step we can take that will save even one child from what happened in Newtown, we should take that step.”
It is a new term but it seems lawmakers are facing old battles.