Obama Urges Debt Limit Increase: 'We Are Not A Deadbeat Nation'
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WASHINGTON -
President Barack Obama called on congressional Republicans to raise the debt ceiling so the country can pay its bills.
During a news conference Monday morning, the president outlined the progress that has been made in reducing the nation's deficit through spending cuts and closing tax loopholes on wealthy Americans.
Obama, however, also explained that raising the debt ceiling only allows the country to pay bills it already owes, and he warned of dire economic consequences if Congress fails to act.
"We are not a deadbeat nation," the president said at one point.
Republicans are demanding dollar-to-dollar spending cuts in exchange for raising the debt ceiling.
This was the president's last brief before he starts his second term next week.
He also spoke about extending the Bush tax cuts and the budget negotiations that nearly sent us over the fiscal cliff.
Monday, May 20 2013 10:24 AM EDT2013-05-20 14:24:20 GMT
The person who bought a winning Mega Millions lottery ticket sold in New Jersey has yet to claim the prize. The winner matched all six numbers in Friday's drawing
The person who bought a winning Mega Millions lottery ticket sold in New Jersey has yet to claim the prize. The winner matched all six numbers in Friday's drawing
Monday, May 20 2013 7:48 AM EDT2013-05-20 11:48:34 GMT
Pounding winds and violent surf from Hurricane Sandy left their mark on Ocean City, NJ. Beaches were washed out and there's concern about debris washing up. But Mayor Jay Gillian says no need to worry.
Mayor of Ocean City says no need to worry about debris filled beaches after Hurricane Sandy. He says plans have been taking place to make sure they're safe and clean.
Monday, May 20 2013 7:40 AM EDT2013-05-20 11:40:41 GMT
It was a soupy start today. We can expect many clouds, some sun, lots of humidity, and a chance of pop up showers any time. At least it'll be warmer: High around 80-degrees today.
The weather remains unsettled through most of the work week. Warm temps stick around, too. And we do mean stick...because it'll be humid, too.
By Thursday a cold front moves by bringing more rain. It will also bring drier and cooler weather by Friday as we finally clear out.
Monday, May 20 2013 7:01 AM EDT2013-05-20 11:01:26 GMT
A text message that says "I'm about to leave" is the last time Janet Royer had contact with her son Thursday night. "It's like a nightmare, it's the worst nightmare anyone can think of. I keep thinking
A text message that says "I'm about to leave" is the last time Janet Royer had contact with her son Thursday night.
Sunday, May 19 2013 8:20 AM EDT2013-05-19 12:20:57 GMT
Finding a job without a college degree can be a difficult task, even if you're a war veteran. Now, they have the opportunity to turn their military training into college credits.
Finding a job without a college degree can be a difficult task, even if you're a war veteran. Now, they have the opportunity to turn their military training into college credits.
Sunday, May 19 2013 7:58 AM EDT2013-05-19 11:58:46 GMT
Once hailed as a hero after surviving a shotgun blast to his face in 2007, a former police officer is now charged with raping and sexually assaulting two women at gunpoint he met at a party.
Once hailed as a hero after surviving a shotgun blast to his face in 2007, a former police officer is now charged with raping and sexually assaulting two women at gunpoint he met at a party.
Sunday, May 19 2013 1:45 AM EDT2013-05-19 05:45:51 GMT
A Powerball jackpot-winning ticket worth an estimated $590.5 million was sold in Florida, but there were also million-dollar winners sold in Pennsylvania and New Jersey, according to the lottery.
A Powerball jackpot-winning ticket worth an estimated $590.5 million was sold in Florida, but there were also million-dollar winners sold in Pennsylvania and New Jersey, according to the lottery's website.
