Posted: Oct 10, 2013 9:45 PM by Dennis Bragg - MTN News
Updated: Oct 11, 2013 8:06 AM
WASHINGTON, D.C. - He's seen a lot of political fights during his nearly 40 years in Washington, but veteran Senator Max Baucus believes the current budget shutdown may be the worst stalemate he's ever experienced.
And he's afraid without action to extend the debt ceiling, the fighting could totally "unwind" the U.S., and the world's economy.
Baucus is floating a bill that would extend the debt ceiling from Tuesday's looming deadline to next December, after the mid-term elections, giving Congress a chance to address on-going spending and debt problems.
He says without that, he says the "U.S. is in trouble, Montana individuals are in deep trouble and the world is in trouble.
"I think this is probably worse than anything I've experienced, regrettably. I'm hopeful that we're starting to get a resolution so that we don't default on our debt. If the United States defaults on our debt it would the first time in American history. And believe me, that would catastrophic and the results would be similar to what happened during the Depression," Baucus said.
Baucus believes extending the debt ceiling will give lawmakers time for serious discussions to not only resolve the spending problems, but come together to figure out how to fund critical areas such as education, highways and agriculture.