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Hagan says failure to reach agreement on debt would be devastating

READ MORE: Hagan says failure to reach agreement on debt would be devastating

WILMINGTON, NC (WWAY) -- Sen. Kay Hagan is in Washington representing North Carolina, and she is active in the debt mess that has the nation deadlocked. One big problem is the politicians themselves, Republicans and Democrats are both sure they have the answer but they can't get along and can not compromise.

WWAY spoke to Sen. Hagan Wednesday. She said failure to reach an agreement would be devastating.

"It would be absolutely terrible, if we actually defaulted," Hagan said. "If we did not raise the debt ceiling you would see overnight concern over Social Security checks. Would the military get paid? How many people would lose their jobs? The numbers that I am seeing are 650,000."

One ray of hope is the so called Gang of Six. It's a small group of senators who seek to cut spending by a $4 trillion while increasing taxes. In other words a compromise solution.

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