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Moreover, which bills are we going to decide to pay?  These guys have said, well, maybe we just pay the interest on -- for bondholders.  So are we really going to start paying interest to Chinese who hold treasuries and we’re not going to pay folks their Social Security checks?  Or we’re not going to pay to veterans for their disability checks?  I mean, which bills, which obligations, are we going to say we don’t have to pay?

And last point I want to make about this.  These are bills that Congress ran up.  The money has been spent.  The obligations have been made.  So this isn’t a situation -- I think the American people have to understand this -- this is not a situation where Congress is going to say, okay, we won’t -- we won’t buy this car or we won’t take this vacation.  They took the vacation.  They bought the car.  And now they’re saying maybe we don’t have to pay, or we don’t have to pay as fast as we said we were going to, or -- that’s not how responsible families act.  And we’re the greatest nation on Earth, and we can’t act that way.

On the Need for Congress to Act: 

August 2nd is a very important date.  And there’s no reason why we can’t get this done now.  We know what the options are out there.  This is not a technical problem any longer.  This is a matter of Congress going ahead and biting the bullet and making some tough decisions.  Because we know what the decisions are.  We've identified what spending cuts are possible.  We've identified what defense cuts are possible.  We've identified what health care cuts are possible.  We've identified what loopholes in the tax code can be closed that would also raise revenue.  We’ve identified what the options are.  And the question now is are we going to step up and get this done.

And, you know, Malia and Sasha generally finish their homework a day ahead of time.  Malia is 13, Sasha is 10...They don’t wait until the night before.  They’re not pulling all-nighters.  They’re 13 and 10.  Congress can do the same thing.  If you know you’ve got to do something, just do it. 

And I’ve got to say, I’m very amused when I start hearing comments about, well, the President needs to show more leadership on this.  Let me tell you something.  Right after we finished dealing with the government shutdown, averting a government shutdown, I called the leaders here together.  I said we’ve got to get done -- get this done.  I put Vice President Biden in charge of a process -- that, by the way, has made real progress -- but these guys have met, worked through all of these issues.  I met with every single caucus for an hour to an hour and a half each -- Republican senators, Democratic senators; Republican House, Democratic House.  I’ve met with the leaders multiple times.  At a certain point, they need to do their job.

And so, this thing, which is just not on the level, where we have meetings and discussions, and we’re working through process, and when they decide they’re not happy with the fact that at some point you’ve got to make a choice, they just all step back and say, well, you know, the President needs to get this done -- they need to do their job. 

Now is the time to go ahead and make the tough choices.  That’s why they’re called leaders.  And I’ve already shown that I’m willing to make some decisions that are very tough and will give my base of voters further reason to give me a hard time.  But it’s got to be done.

And so there’s no point in procrastinating.  There’s no point in putting it off.  We’ve got to get this done.  And if by the end of this week, we have not seen substantial progress, then I think members of Congress need to understand we are going to start having to cancel things and stay here until we get it done. 

They're in one week, they're out one week.  And then they're saying, Obama has got to step in.  You need to be here.  I’ve been here.  I’ve been doing Afghanistan and bin Laden and the Greek crisis.  You stay here.  Let’s get it done.

On Putting the Economy Ahead of Politics:  

You know, every day I get letters from folks all around the country who show incredible resilience, incredible determination, but they are having a very, very tough time.  They’re losing their homes.  Some have lost their businesses.  Some have lost work and have not been able to find jobs for months, maybe a year, maybe a year and a half.  And they feel some desperation.  And some folks who are working just are having a tough time paying the bills because they haven’t seen their wages or incomes go up in 10 years, and the costs of everything else have gone up.

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