White House backs Reid debt plan

(Reuters) - The White House on Monday endorsed a deficit reduction plan put forward by Senate Democratic leader Harry Reid, saying it would remove the cloud of a possible default from the U.S. economy through 2012.

"Senator Reid's plan is a reasonable approach that should receive the support of both parties, and we hope the House Republicans will agree to this plan," White House press secretary Jay Carney said in a statement. "The ball is in their court."