Obama: No negotiations with GOP over debt ceiling

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Image uploaded from a quicklink President Obama vowed Monday that he would not negotiate with Republicans over the federal debt ceiling, warning that Social Security checks would be delayed and the nation could enter a new recession if Republicans do not agree to raise the limit on government borrowing. In the final news conference of his first term, Obama said Republicans were threatening to hold "a gun at the head of the American people" and that he would not trade spending cuts, as Republicans demand, for an agreement to raise the federal debt ceiling.

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