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Looking at the consequences of debt default
WASHINGTON, D.C. (NEWSCHANNEL 3) - The Senate has come up with a bipartisan plan to end the government shutdown and raise the federal debt limit.
The deal still needs to pass in both houses of Congress, however.
Republican House Speaker John Boehner has said that his chamber will not block the plan.
The deal would extend borrowing until February 7th.
So what happens then? As National Correspondent Kristine Frazao reports, we should be aware of just how disastrous a bond downgrade and debt ceiling default could be for all Americans.