President Obama Draws Battle Lines for Second Term

Obama used his final first-term news conference to call out Republicans for their next big showdown.
2:27 | 01/15/13

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Transcript for President Obama Draws Battle Lines for Second Term
washington now, where president obama spent his first term press conference, calling out republicans on their next big showdown. It's over the debt limit. The government loses borrowing authority to pay its bills in about a month. And jonathan karl is covering it from the white house. Jon, the president was clear, it's up to congress to get this done. He's not going to negotiate. Reporter: The president is on yet another collision course with congressional republicans. And both sides are insisting they just won't back down. Late yesterday, the treasure his department said if congress doesn't act, the u.S. Government will hit the limit of how much money it can borrow as early as one month from today. We are not a deadbeat nation. America cannot afford another debate with this congress about whether or not they should pay the bills they've already wracked up. Reporter: President obama used the last news conference of his first term to issue an ultimatum to congressional republicans, raise the debt ceiling. But house republicans have been equally adamant they will not raise the debt ceiling unless the president first agrees to major spending cuts. I think the real issue here is, we all know, is spending. Reporter: The president insists this is not even a subject for negotiation. The financial well-being of the american people is not leveraged to be used. The full faith and credit of the united states of america is not a bargaining chip. Reporter: Stakes are higher than they were during the new year's eve showdown over the fiscal cliff. If an agreement isn't reached, the federal government faces a fouldown on its debts and a shutdown. Checks will be delayed. We might not be able to pay our troops. Reporter: Some have suggested president obama would have better lucks with republicans if he socialized with them. The president said that probably wouldn't make much of a difference. But he wouldn't mind trying. Most people who know me, know I'm a pretty friendly guy. And I like a good party. Jon, the president also talked about preventing gun violence. He said that vice president biden had given him the recommendations to be made public later this week. They include actions the president could take on his own without congre. Reporter: That's right. Congressional sources who have been briefed on this say there's more than a dozen such executive orders the president could issue right away, acting before congress attempts to pass gun control, which as you know, is a very steep climb. The president said he didn't know how much he could pass. Thanks very much.

This transcript has been automatically generated and may not be 100% accurate.

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