Obama: Government shutdown over debt ceiling would harm economy

President Barack Obama said on Monday the U.S. economy would be damaged if a Washington impasse over raising the debt ceiling led to a government shutdown.

“My hope is that common sense prevails,” Obama said at a news conference.

Obama said it is possible that the Republican-led House of Representatives could vote against raising the debt ceiling.

If a government shutdown results, “It will damage our economy,” he said.