Nightly News | April 11, 2011
>> back in the u.s., the government shutdown over the budget may have been shut down at the last moment, but not long after that, washington started aurlging over the next thing, the federal debt ceiling which is once again approaching fast. savannah guthrie is with us tonight from the white house . and savannah, literally, the shouting had just stopped about one issue, which i assume will be cleared up before the next one started.
>> and this fight, brian, promises to be even tougher. the stakes are even higher, as you mentioned, in a few weeks, the u.s. will reach its debt limit. that's the maximum amount the u.s. can borrow. congress will have to raise the debt ceiling. if it does not, the u.s. would default on their loans. some said we would hit recessions. this year, some republicans are saying they won't vote to cut spending unless there's white house cutting along with it. some say it's wrong to use that as leverage.
>> the consequence tz of failing to raise the debt ceiling would be armageddon like. it would be devastating.
>> well, as the administration makes this argument, it has one political problem. back in 2006 , then senator barack obama voted against raising the debt ceiling. that's a vote his spokesman said was a mistake.
>> savannah guthrie back at the white house on a monday. we turn back overseas for a moment. it's now been