Garrett asked Obama why, if he and presidents before him had signed negotiated bills over the debt ceiling, he was refusing to make similar concessions during this year's wrangling with House Republicans.
"What Chuck [Todd] and I and I think many people are curious about is this new adamant desire on your part not to negotiate when that seems to conflict with the entire history in the modern era of American presidents in the debt ceiling and your own history on the debt ceiling," he said.
Obama said that he was not willing to discuss terms with people who wanted to "blow up the economy" if they did not get what they wanted.
"What's different is we never saw a situation as we saw last year in which certain groups in Congress took such an absolutist position that we came within a few days of defaulting," he said.
Garrett then asked a series of inaudible questions, but it was clear from Obama's tone that he found them wanting.
"No, not whatever Congress sends me, they're going to have to send me something that's sensible," he said, before speaking over Garrett.
"Then we shouldn't be -- then we shouldn't be doing this on a one-to-three month time frame. Why would we do that?"
As Garrett attempted to ask another question, Obama cut in again. "This is the United States of America, Major! We can't manage our affairs in such a way that we pay our bills?"