Issa Warns U.S. Still Faces 'Serious, Long-Term Financial Crises'

Issa Issues Warning Over 'Serious' Crises
House Oversight and Government Reform Committee Chairman Rep. Darrell Issa, R-Calif., speaks on Capitol Hill in Washington, Wednesday, Oct. 9, 2013, during the committee's hearing examining the IRS role in Implementing and enforcing the Affordable Care Act (ACA). (AP Photo/ Evan Vucci)
House Oversight and Government Reform Committee Chairman Rep. Darrell Issa, R-Calif., speaks on Capitol Hill in Washington, Wednesday, Oct. 9, 2013, during the committee's hearing examining the IRS role in Implementing and enforcing the Affordable Care Act (ACA). (AP Photo/ Evan Vucci)

Issa said he voted with the Congressional majority because even a brief default would have had "immediate and catastrophic effects on the U.S. and world financial markets."

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