Lieberman calls for bipartisan solution to 'unacceptable' US debt: 'Potential consequences are catastrophic'
Former senator urges Republicans and Democrats to sit down and 'work it out' after US hits debt ceiling
Former Connecticut Sen. Joe Lieberman (I) discusses the Pentagon's announcement of a $2.5 billion aid package to Ukraine and the measures enacted by the Treasury after the U.S. hit the debt limit.
Former Connecticut Sen. Joe Lieberman joined FOX Business' "Mornings with Maria" Friday to warn of the potential consequences facing the country if lawmakers don't come together to address federal spending as the U.S. hits the debt ceiling.
US DEFAULTING ON DEBT IS 'WHOLE DIFFERENT LEVEL OF ECONOMIC RISK,' BIDEN'S ECONOMIC ADVISER SAYS
JOE LEIBERMAN: Well, you don't want to have us break the debt ceiling. The potential consequences are catastrophic. It may sound way off there, but it will begin – if it happened, it would begin to affect the standard of living and of every American adversely.
The U.S. hit the debt limit on Thursday, sparking growing fears of a potential default. (FOX Business / Fox News)
Our elected leaders in Washington… have to work together and compromise. And it will take some program for reducing federal spending. I mean, our deficit is now – our long-term debt is approaching or is just over $33 trillion. It's just unacceptable, and our kids and grandkids are going to be paying it forever. I don't like either side, either party saying, "It's my way or the highway." This is only going to be worked out for the benefit of the country if they sit around a table and work it out.
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