President Obama holds the last press conference of his first term. He addresses efforts to implement gun control measures following the school shooting in Newton, Connecticut, and the need to raise the debt ceiling in order for America to "pay its bills." Obama calls congressional Republican refusals to raise the debt ceiling "irresponsible" and "absurd," saying "they will not collect a ransom in exchange for not crashing the American economy." He then answers questions on gun control, fiscal negotiations, and diversity in the cabinet.
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