Obama on Debt Limit: 'We Are Not a Deadbeat Nation'

President Obama held a press conference to mark the end of his first term. He answered questions about the upcoming fight over the debt ceiling with Republicans in Congress. He also spoke of potential legislation (or executive orders) to prevent gun violence.

When asked about the upcoming deadline to raise the debt ceiling, Obama said that it is not about authorizing any new spending, but about  authorizing the government to pay the bills for the expenses it has already incurred. He said not doing so would be like going out to eat and then deciding to not to pay the bill.

He also said that the start of his second term was a good time to stop negotiating with Congress about fiscal matters "through crisis."

Watch Obama's entire press conference below:

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