Obama Urges Debt Ceiling Increase, Social Security Checks Threat - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Obama Urges Debt Ceiling Increase, Social Security Checks Threatened

Posted: Updated:

WASHINGTON (AP) - President Barack Obama is urging Congress to increase the debt ceiling, declaring "we're not a deadbeat nation." He insists he will not negotiate with Republicans over raising the government's borrowing authority and says there are no contingency plans to avoid congressional action.

"There are no magic tricks here. There are no loopholes. No easy outs," Obama told a White House news conference on Monday.

Obama said Congress' failure to raise the government's borrowing limit would delay payments of benefits to veterans and Social Security recipients.

He said he is willing to hold talks with Republicans over reducing the government's deficits. But he says those negotiations should take place separately from action on the debt ceiling.

Even the threat of defaulting on government obligations is hurting the economy, Obama said.

The government has hit its $16.4 trillion borrowing limit and is expected to run out of ways to meet all of its obligations around March 1, perhaps earlier. Republicans wants spending cuts in exchange for raising the debt ceiling.

Threatening to not raise the debt ceiling, Obama said, is "absurd."

Without an increase, the government would not have enough money to pay interest to debt holders and pay for all government programs.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • NewsMore>>

  • Gang Members Indicted for Criminal Offenses

    Gang Members Indicted for Criminal Offenses

    A huge victory in the war on drugs in Tulsa. Authorities believe they've identified the people who supply 90-percent of the cocaine to our streets.More >>
    A huge victory in the war on drugs in Tulsa. Authorities believe they've identified the people who supply 90-percent of the cocaine to our streets.More >>
  • Plane Makes Emergency Landing on Side Street

    Plane Makes Emergency Landing on Side Street

    A small plane makes an emergency landing on East 69th Street around 3:45 p.m., Tuesday.More >>
    A small plane makes an emergency landing on East 69th Street around 3:45 p.m., Tuesday.More >>
  • Cafe Works To End Hunger In Tulsa

    Cafe Works To End Hunger In Tulsa

    A pay-what-you-can cafe is bringing people in Tulsa together while cutting down on hunger in the area.StoneSoup Community Ventures started a pop-up cafe Tuesday at the Greenwood Cultural Center.It offered fresh, local meals that were healthy, and that is alleviating pressure on the local food banks.Organizers say they are bringing a different approach to Tulsa's hunger problem."We bring people together in community and offer everyone the opportunity, whether they can pay or not for the food, ...More >>
    A pay-what-you-can cafe is bringing people in Tulsa together while cutting down on hunger in the area.StoneSoup Community Ventures started a pop-up cafe Tuesday at the Greenwood Cultural Center.It offered fresh, local meals that were healthy, and that is alleviating pressure on the local food banks.Organizers say they are bringing a different approach to Tulsa's hunger problem."We bring people together in community and offer everyone the opportunity, whether they can pay or not for the food, ...More >>

Most Popular

Stories
Videos
loading...
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.