CHICAGO (CBS) — North suburban Republican Congressman Joe Walsh has a new YouTube video on his website – where he tells President Barack Obama to “quit lying” about the impact of not raising the national debt ceiling by Aug. 2.

In a nearly three-minute video released Wednesday, Walsh says, “President Obama, quit lying.” He claims there is plenty of money to pay federal debts and cover the costs of Social Security benefits, even if the debt ceiling isn’t raised by the deadline.

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“Have you no shame, sir?” Walsh asks in the video, telling Obama to “show some leadership for once.”

Obama has said the nation will default if Congress doesn’t raise the national debt ceiling to $14.3 trillion by Aug. 2. The president told CBS Evening News anchor Scott Pelley that he could not guarantee that Social Security checks would go out next month if a deal on the debt wasn’t reached.

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Walsh says that’s not true, but Republican leaders don’t dispute it. However, they have disagreed with the White House on the best way to make up for more borrowing. The president wants to raise taxes on the wealthy, but Republicans favor major cuts in spending.

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White House representatives did not immediately comment on Walsh’s video.