Tags: BON | BUD | BUSINESS | CBM | CBO | CNG | COS

Senate Leader Reid Says Republicans Play ’Chicken’ on Debt

Monday, 18 Jul 2011 06:13 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

July 18 (Bloomberg) -- Senate Majority Leader Harry Reid, noting that Treasury Secretary Timothy Geithner has warned of disastrous consequences if the U.S. defaults on its obligations to bondholders, said some Republicans are “playing chicken” with the debt-limit debate.

Reid said Geithner warned Senate Democrats last week that failing to raise the U.S. debt limit by an Aug. 2 deadline would hamstring an economy struggling to recover from the worst recession since the Great Depression.

“It will make what we just went through look like a quaint little crisis,” Reid said on the Senate floor.

Reid and Republican Minority Leader Mitch McConnell will push a revised budget plan this week aimed at allowing a debt- limit increase to avoid a government default as President Barack Obama presses for action before the deadline.

--Editors: Jim Rubin, Don Frederick.

To contact the reporters on this story: Laura Litvan in Washington at bfaler@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved