Obama demands quick action to raise debt limit

President Barack Obama speaks during his final news conference of his first term in the East Room of the White House in Washington, Monday, Jan. 14, 2013. (AP Photo/Carolyn Kaster)WASHINGTON (AP) — President Barack Obama demanded on Monday that lawmakers raise the nation's $ 16.4 trillion federal debt limit quickly, warning that "Social Security benefits and veterans' checks will be delayed" if they don't and cautioning Republicans not to insist on cuts to government spending in exchange.

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