Boehner: Government Will Default Loans

Government Default

(CBS) - Speaker of the House John Boehner says the government will default its loans if the President refuses to negotiate over the Affordable Care Act.

Speaker Boehner says there will not be a vote to raise the nation's debt limit without concessions on Obamacare. But Treasury Secretary Jack Lew warns the consequences of a default could trigger a financial crisis as bad as 2008 or worse.
Congress must raise the debt limit before October 17th, or the country will run out of money to pay its bills. 



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