"If we do not come to an agreement, we could lose our country's AAA credit rating. Not because we do not have the capacity to pay our bills. We do. But because we did not have a AAA political system to match our AAA credit rating. Make no mistake, for those who say they oppose tax increases on anyone, and lower credit rating would result potentially in a tax increase and everyone in the form of higher interest rates on their mortgages, their car loans, their credit cards, and that is inexcusable," President Obama said on Friday morning.