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IPFS News Link • Government Debt & Financing

Democrats warn of US shutdown over debt

Senate Democrats warned Thursday of dire economic consequences if Congress fails to raise the US debt ceiling, saying it could prompt a shutdown of the federal government.

"It's playing with fire," said US Senator Chuck Schumer said of the legislative standoff.

If a shutdown were to occur, "citizens couldn't get their checks, veterans couldn't get their benefits, military payments would stop," the veteran New York lawmaker said.

Congress early in 2010 raised the US debt ceiling to nearly $14.3 trillion -- very near the current US debt of some $13.9 trillion dollars. 

1 Comments in Response to

Comment by TheRockster
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Shut the fucking thing down. It's the main source of evil in the world.