VIDEO: Obama: 'We Are Not A Deadbeat Nation'

Created: 01/14/2013 12:10 PM KSTP.com By: Hannah Anderson

President Barack Obama demanded Monday that Congress raise the federal debt limit quickly, warning that "Social Security benefits and veterans' checks will be delayed if they don't," and cautioning Republicans not to insist on concessions in exchange.

"They will not collect a ransom in exchange for not crashing the economy," he said at the final news conference of his first term. "The full faith and credit of the United States of America is not a bargaining chip. And they better decide quickly because time is running short."

"We are not a deadbeat nation," he declared.