Obama: ‘We Are Not A Deadbeat Nation’

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.”