Obama: US default would be worse than shutdown

GMT 19:08 2013 Tuesday ,08 October

Arab Today, arab today Obama: US default would be worse than shutdown

Arab Today

Failure to raise the US debt ceiling would cause the United States to default on its bills and would be "dramatically worse" than the current shutdown, President Barack Obama warned Tuesday. "As soon as Congress votes to reopen the government, it's also got to vote to meet our country's commitments, pay our bills, raise the debt ceiling," Obama told a press conference. "As reckless as a government shutdown is, the economic shutdown caused by America defaulting would be dramatically worse," he added.

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