Tuesday, April 12, 2011
The White House warned Republicans on Monday that failing to raise the $14.29 trillion US debt limit would spark "Armageddon-like" consequences for the slowly recovering US economy.
As a new political showdown looms over the economy following a defused budget row, aides also said President Barack Obama now "regrets" his vote as a senator against raising the debt ceiling in 2006, calling it "a mistake."
"The consequences ... of failure to raise the debt ceiling would be Armageddon-like in terms of the economy," said White House spokesman Jay Carney.'
Posted by DotConnector at 09:44