President Obama held the final press conference of his first term the day before Vice President Joe Biden is set to present his task force's recommendations for curbing gun violence in the wake of the deadly Newtown, Conn., shooting.
Obama said he has received a list of "sensible, common-sense steps" that could be taken through executive action or legislation to reduce violence and plans to give the public a "fuller presentation" later this week.
As for the surge in gun sales across the country, including in Connecticut, the president said it was a trend driven by irrational fear about what he's going to do.
"Those who oppose any common-sense gun control or gun-safety measures have a pretty effective way of ginning up fear on the part of gun owners that, somehow, the federal government's about to take all your guns away," Obama said.
"And you know, there's probably an economic element to that. It obviously is good for business."