Obama Demands Quick Action On Debt Limit

04:41

January 14, 2013

The Associated Press

President Barack Obama speaks about the debt limit in the East Room of the White House in Washington on Monday. (Carolyn Kaster/AP)

President Barack Obama demanded Monday that Congress raise the federal debt limit quickly, warning that "Social Security benefits and veterans checks will be delayed if they don't," and warning Republicans not to demand concessions in exchange.

"They will not collect a ransom in exchange for not crashing the economy," he said at the final news conference of his first term. "The full faith and credit of the United States of America is not a bargaining chip. And they better decide quickly because time is running short."

The president also said he will soon ask Congress to enact new gun legislation in the wake of the shootings a month ago that left 20 elementary students dead in Newtown, Conn. Facing stiff opposition from the National Rifle Association, he conceded lawmakers may not approve everything he asks for.

ABC News: Analysis: Gun Control Set to Crowd Out President Obama’s Second-Term Agenda
New York Times: Obama Will Seek Citizenship Path in One Fast Push
Hartford Courant: Parents Of Sandy Hook Victim Call For Broad Approach To Improving Safety

Guest:

Rick Klein, senior Washington editor for ABC World News and co-host of the the network’s political webcast, “Top Line.” He tweets @rickklein.

This segment aired on January 14, 2013.

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