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Thanks guys Fox News alert on new fallout from that presidential news conference you just saw and the growing concerns on Washington's spending crisis.
As the president pressured congress to raise the debt ceiling.
Welcome to America live everyone I'm Megyn Kelly.
In the final news conference of his first term the president moments ago demanding.
That Republicans increase his debt limit a debt limit against which he voted he voted against raising it when he was -- senator but he is demanding that they do differently than he did.
Major Garrett now CBS news challenge the president.
On his own track record on this issue.
As you -- those are finding most of the debt ceiling can sometimes be complicated themselves and the senate voted against -- debt ceiling increase.
And -- in previous.
Aspects of American history President Reagan in 1985 president George Herbert Walker Bush in 1990 President Clinton in 1997 all signed -- deficit reduction deals that were contingent upon or in the context of raising the debt ceiling.
Yourself four times have done it three times those were related to deficit reduction -- budget.
What chuck and I think many people are curious about this new -- -- desire on your part not to negotiate when that seems to conflict with the entire history.
The modern Arab American presidents in the debt ceiling and your own history and the debt ceiling.
And doesn't that suggest that we are gonna go into a default situation because no one is talking to each other about how to resolve this.
Well no measure -- I think if you look at the history.
Getting votes for the debt -- is always difficult.
And budgets in this town are always difficult.
I want to there's just last year.
But what's different is we never saw situation as we saw last year.
Groups in congress.
Took such an absolutist position.
That we came within.
A few days of default.
Lou Dobbs is the host of Lou Dobbs tonight on the Fox Business Network.
-- welcome back what an extraordinary exchange we saw the president have on on that issue.
He basically his position was -- were raising the debt ceiling whether congress wants to or not I'm not negotiating with them on it.
I'm not following what what speaker Boehner has said is is a -- rule of for every dollar we increase the debt limit there will be -- spending cut.
And I'm not gonna let them put a gun at the heads of the American people.
Because in his terms they refuse to pay the bills.
They've already agreed to pay then when asked about the fact that he himself voted against raising the debt limit.
Back in 2006 when he was a senator.
He seemed to say that was somehow different than this because.
I'm not sure why but it somehow different -- that's your thoughts.
My thoughts were well to begin with the president displayed absolutely no sense of irony whatsoever about his record.
-- the if you will -- the particular.
I think extraordinary.
A contradiction in his career which has been and there was only it was -- just over six years ago.
That is a US senator his voting against the debt ceiling increase.
And now is a president just about four years from having assumed office.
He will of almost doubled.
The national debt in his first term.
As president of the United States says at least allowed by the debt ceiling.
What he was really saying it seemed to -- Megan was the only antidote in the only possible response for this very carefully thought out president.
-- -- when it comes to the the absolutism of the Republicans is to -- it with absolutism of his own.
Both and trying to -- both irrational and -- shirt to change over time it's just a question of -- This is Senator Obama back in 2006.
The fact that we're here today to debate raising America's debt limit is a sign of leadership failure.
That's a sign that the US government can't pay its own belts a -- -- we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies.
Leadership means that the buck stops here.
And he does not say he's gonna vote against it now that's that was his position back then.
He he was saying no period no to an increase in the debt limit these Republicans in the house now are saying.
If we put in place some spending cuts.
So it's not it's not absolute no on their part it's will get you what you want if you put in -- and spending cuts but he seems to think that that position is more extreme.
Then flat out no back in 006.
It has been become habitual with this president make -- that he described his opponents.
Political or otherwise.
-- and terms from which they have no.
He says if you're common sense.
When it comes to gun ownership than you have to see my way it has to be my way.
And if if not then you obviously have no common sense he is saying of the Republicans they are extremists.
Because they want to achieve different goals than does heat.
He has taken on this position these these political positions.
That are frankly stalled qualifying of the government and political process.
They are secondly.
In -- disingenuous to the extreme.
On the whole.
He is setting the ground work for what will be a rather spectacular collision between the Republicans and his administration.
But one that is sure in my opinion at least to weigh heavily on his legacy.
This is a man who is I think as we listen to some of the wording in his comments today.
They're beginning to understand he's not going to have it his way despite the grandy isle city of his.
Extraordinary Brett the goals that he's lining up whether it gun control immigration reform or -- -- clear clean vote on a -- -- I want to follow up on that with two points in the tournament after governor I want as the number one about tone you seem to be seem to be.
Getting to -- but.
About talent suggesting -- that the Republicans.
And he aren't agreeing on what to do about spending because the -- the Republicans.
Look with suspicion on.
On people who receive Medicaid on people who receive Social Security on and and college students who need loans that they look with suspicion the questioning of motives.
He's run that horse I think just about into the ground and now it's time for the SP CA to step -- He really needs to back off of that concept cars that's in the -- -- -- -- that debt limit that.
This is just not a president right now he needs new material he needs -- fresh -- And he does as he started to demonstrate need a new home there were supposed a tone of -- knowledge -- that at least congress is an independent.
The sovereign body of the this constitutional republic today that was a big step forward in his progress I think an important change in tone.
And and my last question very quickly is he says that he has.
He's put in place 2.5 trillion dollars worth of deficit reduction already says -- A little short of the four trillion he believes we need but he would have the American public believe that he.
Has already significantly reduced our deficit as president.
Yeah if which makes you wonder why we need another two trillion dollar so desperately now is we.
Are are getting ready for the beginning of his second term.
Obviously that's two and a half trillion that is an offense -- in my opinion.
Serial and that of others but it's all about a baseline it is not a reduction in spending it's a reduction in the rate of growth of spending.
Which is still again suffocating to -- private economy and unsustainable.
Over the course of the next several years now.
One thing we did hear the president reference personally we've heard from Nancy Pelosi prior another person the president personally talking about.
Now closing more loopholes and that means higher taxes we don't know -- but he.
He would not specify any specific spending reductions he is still talking about raising taxes and he is refusing to negotiate with the house Republicans on this issue of the debt ceiling -- It's gonna be -- a couple of months looking forward to -- I thought I'd Vegas there vice mayor of.
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