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Reid: Congress’s top priority should be preventing a ‘catastrophic’ default

Lawmakers are at an impasse on how to pass a continuing resolution (CR) to fund the government, which has been shut down for more than a week. They are also working against an Oct. 17 deadline for raising the nation's borrowing limit. 

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Treasury and the White House have warned that if the limit is not lifted, the government could default on its debt, leading to a recession. Republicans have threatened to default unless ObamaCare is repealed or delayed.

“It’s irresponsible,” Reid said of the GOP strategy being discussed. “Some Republicans in Congress threatening default are elating that it would even happen.”

On Tuesday, Reid introduced a “clean” debt ceiling increase bill that would allow the government to borrow money through the end of 2014.

It's unclear where the fight will go from here, with both sides digging during the first government shutdown since 1996.

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