Behind The Mic With Joe Mathieu: Default Would Dwarf Shutdown

October 7, 2013 11:00 AM
Behind The Mic With Joe Mathieu: Default Would Dwarf Shutdown
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" BOSTON (CBS) – We’ve been reporting on the impact of the partial government shutdown for a week now. And each day there’s another story of how it’s hurting someone or something.

Just today we read about two dozen military vets at Northeastern University who have lost their tuition assistance because of the shutdown.

News like this is local – if you lost a job or a paycheck because of the shutdown, nothing could be bigger.

But we’re told this won’t even compare with what would happen if there’s no deal to raise the debt ceiling later this month.

Treasury Secretary Jack Lew says that would force the U.S. to default on its debt for the first time ever "

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