Journal Express, Knoxville, IA

Local News

January 14, 2013

President Obama's end-of-term press conference

(Continued)

Washington, D.C. —

 
 
 
     And so what we’re not going to do is put ourselves in a position where in order to pay for spending that we’ve already incurred, that our two options are we’re either going to profoundly hurt the economy and hurt middle-class families and hurt seniors and hurt kids who are trying to go to college, or, alternatively, we’re going to blow up the economy.  We’re not going to do that.
 
 
 
     Q    (Inaudible) -- open to a one-to-three-month extension to the debt ceiling -- whatever Congress sends you, you’re okay with it?
 
 
 
     THE PRESIDENT:  No, not whatever Congress sends me.  They’re going to have to send me something that’s sensible.  And we shouldn’t be doing this --
 
 
 
     Q    -- (inaudible) --
 
 
 
     THE PRESIDENT:  -- and we shouldn’t be doing this on a one to three-month timeframe.  Why would we do that?  This is the United States of America, Major.  What, we can’t manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we pay our bills? 
 
 
 
     Look, I don’t think anybody would consider my position unreasonable here.  I have --
 
 
 
     Q    But why does it presuppose the need to negotiate and talk about this on a daily basis?  Because if default is the biggest threat to the economy, why not talk about it --
 
 
 
     THE PRESIDENT:  Major, I am happy to have a conversation about how we reduce our deficits.  I’m not going to have a monthly or every-three-months conversation about whether or not we pay our bills.  Because that in and of itself does severe damage.  Even the threat of default hurts our economy.  It’s hurting our economy as we speak.  We shouldn’t be having that debate. 

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Local News
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