By Justin Sink - 01/15/13 02:58 PM EST
At a press conference Monday, Obama said the threat of default was "irresponsible" and "absurd," demanding that the House GOP extend the debt ceiling independent of negotiations on a comprehensive debt deal.
“They will not collect a ransom in exchange for not crashing the American economy,” Obama said. “The full faith and credit of the United States of America is not a bargaining chip.”
But Portman said such a step could only be taken alongside spending cuts.
“Yes, we need to raise the debt limit at some point, but we have to do it in the context of getting the spending under control," Portman said.