Obama uses press conference to hammer Republicans over debt ceiling

Bloomberg

President Barack Obama says raising the debt ceiling is needed to pay for spending that's already occurred, not new spending.

Staff Baltimore Business Journal

President Barack Obama used the final press conference of his first term to attack Republicans for tying an increase in the federal government's debt ceiling to additional spending cuts, The Business Journals reported.

If the debt ceiling isn't raised on time, Social Security checks and veterans' benefits would be delayed, troops might not get paid, and federal contracts with small businesses might not be honored, Obama said.

Source: http://feedproxy.google.com/~r/bizj_national/~3/pe5_dZTvMxA/obama-uses-press-conference-to-hammer.html

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