Walsh to Obama: Quit Lying

Illinois Congressman Joe Walsh accused President Barack Obama in a video released Wednesday of "lying" about the impact of not raising the national debt ceiling in the next three weeks and went on to ask, "Have you no shame, sir?"

Republican Rep. Joe Walsh says "President Obama, quit lying," in the video posted online. He says there is "plenty of money" to pay debt and cover Social Security even if the limit isn't raised.

Walsh claims Obama will not get congressional approval to increase the $14.3 trillion debt limit unless the Democratic president backs a balanced budget amendment to the Constitution, which Obama opposes. Obama says the country will default if Congress doesn't raise the ceiling by Aug. 2.