video transcript

U.S. President Barack Obama held his final news conference of his first term where he called on lawmakers to put policy before politics. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA SAYING : "We are poised for a good year, if we make smart decisions, and sound investments and as long as Washington politics as long as was politics don't get in the way of Americas' progress." He also issued a warning to Congress if it does not raise the debt ceiling. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA SAYING : "It would be a self inflicted wound on the economy. It would slow down our growth, it might tip us into recession and ironically it would likely increase our deficit. " Obama also pledged to pursue gun control after last month's massacre of schoolchildren in Connecticut. He called on members of Congress to follow their conscious. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA SAYING : "We are going to have to vote on what we think is best, We are going to have to come up with answers that set politics aside." Obama will officially begin his second term on January 20th.