President Obama reiterated on Monday that the United States is required by law to meet its obligations, and that the onus remains on Congressional Republicans to raise the debt ceiling.
“We are not a deadbeat nation,” Obama said at a White House press conference.
“There are no magic tricks here, there are no loopholes,” he said, referring to talk about minting a $1 trillion platinum coin or using the Fourteenth Amendment to bypass Congress and unilaterally raise the debt ceiling. “There are no easy outs.”
Igor Bobic is the assistant editor of Talking Points Memo, helping oversee the site’s coverage of politics and policy in Washington. While originally from Bosnia and Herzegovina, Igor feels best at home on the beaches of Southern California. He can be reached at firstname.lastname@example.org.