White House Won't Kill 'Trillion Dollar Coin' Speculation

Press Secretary Jay Carney says Congress should act to raise debt ceiling.
1:42 | 01/09/13

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Transcript for White House Won't Kill 'Trillion Dollar Coin' Speculation
You have a position on this trillion dollars when business. I would simply go back to what I said. The option here is for congress to do its job and pay its bills. Bills that have already been -- -- You know we saw what happened last summer -- -- -- -- -- congress flirted with. The idea default. Didn't even go all the way to default and yet the impact on our economy was severely impact on average Americans was severe we have the the lowest. Job creation in the month of August 2011 at any month during the recovery and the reason is because of what. House Republicans. Did that some. Now we we can't do that again so let's not even pretend that that's an okay. Scenario let's -- You asked Connolly. Working what was it you do not -- -- are -- -- Do you believe you have this power -- there is no plan B there is no back up plan there is congress' responsibility. To pay the bills of the United States. This is not about future -- we will have that debate we will continue to have the debate about how we. The budgets that we design and the path forward in deficit reduction and the president's principles in. This matter -- very clear. You know there are there is no alternative to congress. Raising the debt ceiling -- its responsibility congress has to pay the bills the United States that is. An obligation assigned themselves. But -- I -- your mind. I heard you on -- -- rule out using working. I heard you on it but we will look of hate mongers. What you did not rule out this truly dollar what is just yesterday question. Does the White House rule out the idea of these two trillion dollar coins as -- -- -- doing I would have created. Treasury for the specifics of this question I can tell you that the president does not believe that there is a backup plan -- a plan B or an off -- the only. Viable option here. It is congress to fulfill its response is that congress feels -- responsibility. And ensures that the United States of America pays its bills as -- it has always pay its bills throughout its history. We working not rule out from an awkward again -- I can tell you that. There are no back up plans there are no plan -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- What -- this say I don't have analysis here every you know idea that's thrown out I can tell you that the president. This is actor's. Again I. I'm not that I know but. It's -- -- since treasury and I believe overseas. Printing and mincing you might ask treasury. The president's belief. He is this congress needs to do its job congress needs to pay the bills that congress racked up and we can continue to negotiate and debate over the important economic budgetary and fiscal challenges that we face within the context. Our budgets and are sequester and all the issues that confront us but it is not acceptable to this president. And therefore he will not negotiate. Over. The prospect of default. Congress needs to. Do its job.

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

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