If I remove a lead source that we don;t really use anymore, will that remove it from everyone who has been tagged with that particular lead status

Ie say one of our clients was a lead that came through and we tagged it as a JUNK LEAD, would all of our clients who are tagged as JUNK LEADS to a default lead status, or will it go blank

Any advice would be great... before we delete any lead source tabs

Much appreciated

Brenda,