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About. that is not something we should be using as leverage. okay. juliana. >> thank you, mr. president. you laid out the economic consequences of the default, but if we were to get to that point, would you prioritize and pay bondholders first to maintain a semblance of credit rather than social security recipients or military servicemen and women? how would you make that determination? >> i am going to continue to be very hopeful that congress does not put us in that position. i think if people understand what the consequences are, they will set that potential scenario aside. i do know that t...

People who bought treasury bills, that we really won't be in default because those interest payments will be made and to them what i have to remind them is, we have a lot of other obligations, not just people who pay treasury bills. we have senior citizens counting on their social security arriving on time. we have veterans who are disabled who are counting on their benefits. we have companies who are doing business for our government and for our military that have payrolls that they have to meet. and if they do get not get paid on time, they may have to layoff workers. all of those folks are ...

Let them vote to keep the government open or not. and they can determine where they stand and defend that vote to their constituents. and let them vote on whether or not america should pay its bills or not. and if, in fact, some of these folks really believe that it's not that big of a deal, they can vote no. that'll be useful information for voters to have. if it fails and we do default, i think voters should know exactly who voted not to pay our bills. so that they can being responsible for the consequences that come with it. harry schapiro. >> thank you, mr. president. you mentioned the sup...

Of october 17th. you've heard members of the house talk about a super committee, another budget super committee that might get both sides together in a room hammering out some kind of agreement that might pull the government away from the brink. we may hear the president ask these questions. we're probably also going to get asked -- or hear the president get asked about a debt default in general. it's unclear as to what might happen around the country to average americans and their businesses and daily lives if the country goes into default. the treasury secretary jack lew has said it's risky,...

If congress refuses to raise the debt ceiling. america would not be able to meet our financial obligations for the first time in 225 years. and because it ais called raising the debt ceiling americans think it is raising our debt. it is not. it does not add a dime to our debt. it says you paid for what congress has authorized america to purchase. whether that is the greatest military in the world or veteran's benefits, whatever it is, what this does is make sure that we can pay those bits. now the last time that the tea party republicans flirted with the idea of default, two years