http://news.yahoo.com/obama-to-make-2-p-m--statement--take-questions-162609968.html
I dont quote yahoo as much but USAToday appears to have missed some key quotes by Bo.
President Barack Obama called an impromptu press conference Tuesday and
warned House Republicans that a first-of-its-kind U.S. default would
amount to an economic “nuclear bomb” dropped on the fragile economy.
He called that an “insane” policy that would have a “catastrophic”
impact on the economy, spreading “chaos” and even precipitating a
“worldwide catastrophe.”
To couple mainstream news with alternative news sources:
http://www.independent.co.uk/news/world/americas/get-your-fiscal-house-in-order-china-warns-us-as-asia-expresses-concern-for-13tn-of-investments-8864935.html
China, the biggest foreign creditor of the United States, has waded
into the American budget crisis, warning Congress that it must resolve
the political impasse over the debt ceiling without further delay.
The Chinese Vice Foreign Minister, Zhu Guangyao, told
America’s deadlocked politicians on Monday that “the clock is ticking”
and called on them to approve an extension of the national borrowing
limit before the federal government is projected to run out of cash on
17 October.
“We ask that the United States earnestly
takes steps to resolve in a timely way the political issues around the
debt ceiling and prevent a US debt default to ensure the safety of
Chinese investments in the United States,” Mr Zhu told reporters in
Beijing. “This is the United States’ responsibility,” he added.
Furthermore, from another alternative news source:
http://www.infowars.com/12-very-ominous-warnings-about-what-a-u-s-debt-default-would-mean-for-the-global-economy/
A U.S. debt default that lasts for more than a couple of days could
potentially cause a financial crash unlike anything that the world has
ever seen before. If the U.S. government purposely wanted to damage the
global financial system, the best way that they could do that would be
to default on U.S. debt obligations.
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