President Barack Obama’s ‘tough guy strategy’ strikes again as he refused on Monday to hold any more negotiations on the looming debt crisis and responded to GOP saying that the matter must be quickly addressed. He also said that America is not a deadbeat nation.
The President escalated the debt fight by making clear that he sees no alternative to the Congress voting for an increase in the debt limit and said that not doing so would be ‘irresponsible’ and ‘absurd.’
Obama noted that not reaching a consensus at this point will push the economy back into recession.
"America cannot afford another debate with this Congress about whether or not they should pay the bills they've already racked up," he said at a White House news conference.
Obama added that if the debt ceiling is not raised the interest rates would rise and checks to social security beneficiaries and military veterans would cease.
"Markets could go haywire," he said, adding that "Republicans in Congress have two choices here: They can act responsibly and pay America's bills or they can act irresponsibly and put America through another economic crisis. But they will not collect a ransom in exchange for not crashing the American economy."
Some Democrats are even urging the administration to sideline the Congress and assert such an authority that would allow the president to raise the ceiling on his own. However, Obama has refused to take his eyes off of Plan A to search for other options.
“If the House and the Senate wants to give me the authority so they don’t have to take these tough votes… I’m happy to take it,” he said.
But, Obama added: “There are no magic tricks here, no loopholes. There’s no easy way out.”
Obama’s recent address once again reinforces the impression he’s trying to give to the Congress Republicans that he will not give in to fallback maneuvers.
Obama said he is willing to do spending cuts where necessary but not in the context of the debt ceiling. He said agreeing to link the two will be like negotiations with a gun at the head of the American people in which Republicans would cut safety net programs under the threat to wreck the entire economy.
Republicans now point out that when Obama was a senator, he had voted against increasing the debt ceiling. The White House now says the President regrets that vote.