President Barack Obama during a surprise press conference Monday explained that raising the debt ceiling “does not authorize Congress to spend more” but merely allows “America to pay its bills.”
“We’re not a deadbeat nation,” the president stressed. “Congress authorizes us to pay our bills.”
The president also said that if Congress wants to give him the power to raise debt ceiling, “I’m happy to take it.”
He said Congress has two choices: Either raise the debt ceiling or give him the authority. to do so. Either way, the president seemed to say, the limit will be increased.
“I will not have that conversation with a gun at the head of the American people,” the president said, referring to his commitment to avoid another debt ceiling fight. “We have to break the habit of negotiating through crisis over and over again.”
“[Republican leaders] will not collect a ransom in exchange for not crashing the American economy,” he added. “The full faith and credit of the United States of America is not a bargaining chip.”
For more... http://www.theblaze....h-new-spending/
Edited by -Mr_Fess-, 15 January 2013 - 01:45 AM.