debt ceiling isn't raised, then American troops and Social Security checks won't be paid

k: Wednesday, January 16, 2013 '"

'We are not a deadbeat nation': Obama warns Republicans if debt ceiling isn't raised, then American troops and Social Security checks won't be paid

More than half of Republicans say they will allow the country to default on its debt unless Obama commits to deep spending cuts

By Hayley Peterson
PUBLISHED: 12:20 EST, 14 January 2013 | UPDATED: 19:17 EST, 14 January 2013

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President Obama warned Republicans on Monday against failing to raise the debt ceiling, saying the move would withhold money from American troops and Social Security recipients.
'They will not collect ransom in exchange for not crashing the American economy,' Obama said of House Republicans, many of whom have vowed to delay raising the debt ceiling until Obama commits to steep spending cuts.
'America cannot afford another debate with this Congress about whether or not they should pay the bills they have already racked up,' Obama continued.
he piled pressure on Republicans, pointning out the consequences of America failing to pay its bills. 'We are not a deadbeat nation,' he said repeatedly.
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President Obama warned Republicans on Monday against failing to raise the debt ceiling, saying the move would 'send the markets haywire' and plunge the U.S. into a second recession

The U.S. is expected to default on its debt by late February or early March.
'If congressional Republicans refuse to pay America’s bills on time, Social Security checks and veterans’ benefits will be delayed,' Obama said. 'We might not be able to pay our troops or honor our contracts with small business owners.'
Threatening the safety of Americans at home and abroad, Obama also warned that food inspectors, air traffic controllers and specialists who collect loose nuclear material would not be paid.
'Markets could go haywire,' he said. '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.'
The move would slow down the recovery and 'might tip us into a recession,' he said. 'To even entertain the idea of this happening -of the United States of America not paying its bills - is irresponsible. It's absurd.'

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Responding to Republican calls to offset increases in the debt ceiling with an equal amount of cuts, Obama said the two issues should be considered separately.
'The debt ceiling is not a question of authorizing more spending,' he said. 'Raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that Congress has already committed to... these are bills that have already been racked up and we need to pay them.'
Meanwhile, House Speaker John Boehner, R-Ohio, released a statement insisting that Democrats accept new spending controls.
'The American people do not support raising the debt ceiling without reducing government spending at the same time,' Boehner said. 'The House will do its job and pass responsible legislation that controls spending, meets our nation's obligations and keeps the government running, and we will insist that the Democratic majority in Washington do the same.'

Obama rebuked the cuts that Republicans have proposed and challenged them to bring the proposals to Congress for a vote

Obama rebuked the cuts that Republicans have proposed and challenged them to bring the proposals to Congress for a vote.
'If they think that they can get that through Congress, then they are free to go ahead and try,' Obama said, calling out Boehner and Senate Minority Leader Mitch McConnell, R-Kentucky, by name.
He said he refused to accept that Congress would risk a default to make a political point.

Obama held the press conference, the last of his first term, as it was revealed that more than half of House Republicans are prepared to allow the U.S. to default on its debt unless he commits to steep spending cuts.
'We always talk about whether or not we’re going to kick the can down the road,' House Republican Conference Chairwoman Cathy McMorris Rodgers told Politico. 'I think the mood is that we’ve come to the end of the road.'
While the results of a default would be dire for the economy, most Republicans agree it's a better option than allowing additional debt to pile up without an equal-or-greater offset of deep spending cuts.
If House Republicans choose not to force President Obama's hand on spending cuts with the threat of a default, they are planning to shut down the government in March when a six-month temporary funding measure expires.
'I think it is possible that we would shut down the government to make sure President Obama understands that we’re serious,' McMorris Rodgers said.
Congress has been repeatedly authorizing temporary funding measures to pay for government operations over the last three years, since lawmakers have been unable to compromise on an annual budget since 2009. The last temporary measure was passed in September and it expires on March 27.
Republicans threatened a shutdown over budget negotiations in the spring of 2011 but a deal was eventually reached (albeit an hour after the deadline) to avert a suspension of operations.
The government has shut down a total of 15 times since Jimmy Carter was president, with most of these episodes lasting only a couple days. One of the most famous shutdowns in history was in 1995, when the government was left without funding for 21 days due to a budget standoff between President Bill Clinton and then-House Speaker Newt Gingrich.
During that time, from Dec. 16, 1995 to Jan. 6, 1996, roughly 800,000 federal workers were furloughed and 'nonessential' government functions were suspended, including the processing of visas and cleanup at toxic waste sites.
The episode also closed national museums, monuments and hundreds of national park sites.

VIDEO: Obama demands immediate action to raise debt ceiling

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Somehow I think you did not peruse the tables and compile the data yourself. Otherwise even you would not believe what you wrote. Everyone please do check the White House Office of Management and Budget and CBO numbers. The nation's debt under Obama grew more in his first four years than under the first 44 presidents - COMBINED. You cannot spin your way out of that, Grass.- Cliff Stern, Just the Other Side of Midnite, United States, ----------------------------------------- The nation's debt grew because of fiscal mismanagement and expansion of government by every president since Reagan, he started the post war rot with the biggest increase in spending since Eisenhower. We are now mostly servicing the interest on the credit card. Compared to Reagan and Bush 43 Obama is comparable to Scrooge.

- Grasshopper Farmer , Sandburrville, 16/1/2013 00:20

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Isnt a deadbeat someone who doesnt have the money to pay their bills but keeps spending more than they have and continue to borrow from others???? Yeah that is exactly what you are the leader of a Deadbeat Nation made so by the same Party that elected you into office.

- Aleric , Louisville, United States, 15/1/2013 19:52

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Stocked up on food yet before it costs even more? On the road to hyperinflation....

- Botswana Jones , Huckleberry, United States, 15/1/2013 19:27

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Spending is the problem. How about taking the national credit cards away from the 535 chimpanzees in Congress and the one in the White House?

- Mike_Carrington , Indianapolis, 15/1/2013 18:33

Click to rate Rating 19

Bernie Maddoff was a piker, compared to these guys..... - Live_and_Learn01 , Houston_TX, United States, 15/1/2013 17:57....Social Security is run EXACTLY like Bernie's scam. Money comes in and pays current benefits. Only difference is when government does it the left will call you crazy if you question anything about it. Question: which party was it that voted to move SS funds from a separate account into the general account (and then spent it all plus 40%)? The demonrats. Question: which party was it that voted to tax SS benefits? The demonrats. But you people keep thinking they are somehow on your side despite history, econ 101, and actual results.

- Robert , Atlanta, 15/1/2013 18:29

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Let me see if I can follow your argument. 1) Social Security has 2.5 TRILLION or 2,500 BILLION dollars in reserve funds; therefore needs NO REFORM OR CUTS. 2) Social Security does NOT have the 23 BILLION required to cover one month's worth of payments; and requires extra government borrowing for a single month's payments. ... And you want me to believe BOTH of those previous statements are accurate? I may not be exceptionally intelligent; but is anyone THAT stupid? - ertdfg , Colorado Springs, 15/1/2013 17:30.....The 2.5 Trillion in 'reserve' funds are just paper IOUs (bonds). And please don't question Dear Leader, just accept the priase the fawning press will happily pass off as news, pay your increased taxes and don't worry about the 1.4 trillion we have stolen from our kids every year he fool as been President.

- Robert , Atlanta, 15/1/2013 18:24

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USA, your leaders have sold the farm, and you ordinary Americans are just cattle on that farm. Sorry if that offends but it's true, that's how your leaders see you ,cattle. Britain is no different either. - Dave Tring , Tring, 15/1/2013 16:13<-----------The difference is the American cattle have firearms and eventually kill off the farmers trying to subjugate them.

- Jeff , Republik of Kalifornia, 15/1/2013 18:11

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Washington DC (i.e. Congress) makes Bernie Maddoff look like a piker!

- Live_and_Learn01 , Houston_TX, United States, 15/1/2013 18:02

Click to rate Rating 11

Bernie Maddoff was a piker, compared to these guys.....

- Live_and_Learn01 , Houston_TX, United States, 15/1/2013 17:57

Click to rate Rating 10

no, you're a deadbeat president!

- stevesjeep , new bern, United States, 15/1/2013 17:51

Click to rate Rating 20

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Wednesday, January 16, 2013