24 Jul '11, 1am

US reaching 'brink of a default': Top senator

US reaching 'brink of a default': Top senator

Democratic Senate Majority Leader Harry Reid (above) accused Republicans late on Saturday of pushing the United States to 'the brink of a default' by resisting compromise in high-stakes budget talks. -- PHOTO: AP WASHINGTON - DEMOCRATIC Senate Majority Leader Harry Reid accused Republicans late on Saturday of pushing the United States to 'the brink of a default' by resisting compromise in high-stakes budget talks. 'Their unwillingness to compromise is pushing us to the brink of a default on the full faith and credit of the United States. We have run out of time for politics. Now is the time for cooperation,' Mr Reid said in a statement. His comments came after a marathon day of crisis negotiations at the White House and in Congress aimed at averting a catastrophic US debt default now just 10 days away by reaching a deal to narrow the yawning US budget deficit. Mr Reid sign...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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