Houston congresswoman joins debt ceiling debate

HOUSTON On paper, the government will run out of money on August 2.

If there's no deal by then, the U.S. will run out of money.

That means the nation will default on debts, and it could mean social security and military checks will not go out.

But Rep. Sheila Jackson Lee says Houstonians should not just look at this as just as national problem.

She says if the debt ceiling is not raised, this city will be hit hard financially.

"If we allow the debt ceiling not to be raised, the calamity in Houston, the fourth largest city is the nation, along with our major financial centers will be felt. People will be laid off. Jobs will be lost in large numbers and businesses will be closed and industries will be hurt," she said.

Jackson Lee says she believes a deal can be made without cutting programs like Medicaid and Medicare.

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