Harry Reid: 'We'll Raise' Debt Ceiling by $2.4 Trillion

On Thursday, Senate Majority Leader Harry Reid said Democrats were more than willing to raise the debt ceiling by another $2.4 trillion when America hits its current ceiling at the end of the year. 

When asked what Democrats would do when America inevitably hits its debt ceiling, Reid told reporters, “If it has to be raised, we’ll raise it.”

The Treasury Department has noted America will hit its current $16.394 trillion debt ceiling by the end of the year, but Reid said he thought that would not happen until 2013.

“I think the debt ceiling will come after the first of the year,” Reid said.