(KCEN) -- Spending and the debt ceiling dominated the final press conference for President Obama's first term.
Saying America is not a "deadbeat nation," the President will pressure Congress to raise the debt limit before it expires in mid-February.
And he continues to frame the debt ceiling as something that must be raised in order to pay for spending Congress has already authorized.
The President claims the consequences would be severe if it's not raised, including missed benefit checks, lack of money to pay businesses for services and the further reduction of America's credit standing.
Obama said, "The financial well-being of the American people is not leverage to be used. The full faith and credit of the United States of America is not a bargaining chip."
In March, the government also runs out of money to fund operations, another threat the President says will damage the economy.
On guns, Obama said he'll be unveiling his proposals next week.
He acknowledged that strong opposition may prevent Congress from approving all he asks for.
Republicans say the President is playing politics with America's economy and our future.