Monday, July 18, 2011

Reid Warns Default Would Be "Much Worse Than The Great Depression"

"Senate Majority Leader Harry Reid (D-NV) warned Monday that the consequences of the government failing to make good on its obligation if the debt ceiling isn't raised would be "much worse than the Great Depression."

Reid announced Monday that the chamber will remain in session until a debt ceiling deal is reached..."

at http://www.businessinsider.com/senate-to-remain-in-session-until-debt-limit-deal-reached-2011-7?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+businessinsider+%28Business+Insider%29#ixzz1SUCsTXJj

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