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Obama: We can't not pay bills we've already incurred


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President Obama spoke tonight after the House passed the "fiscal cliff" bill negotiated in the Senate. He stated he will sign the bill then shifted the seven minute remarks toward future negotiations.

"The one thing I think hopefully in the new year we'll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much," Obama said.

While he hoped for a grand bargain, he wants to make sure that the future negotiations are not about not paying bills already signed into law by Congress.

The President's remarks preempt raising of the debt ceiling discussions. According to Geitner, the ceiling actually hit on December 31, 2012. The future discussions will occur at the same time as the sequestration discussions due in two months.