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A Real Economist Explains the Debt Ceiling Theatre

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Joe's picture
Submitted by Joe on

I think someone else at Corrente posted this the other day, but nothing wrong with reposting. It was a great video.

mass's picture
Submitted by mass on

I can not believe how many people are fooled by this man and both Parties.

The liberty of democracy is not safe if people tolerate growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism.---FDR

Valley Girl's picture
Submitted by Valley Girl on

Good interview, though I think the person interviewed strayed off into some improbable weeds shortly before the end. Kinda seemed to be supporting Obama at that point. Otherwise, just great.

btw, Bruce, check your regular mail. If I had known about your visit to Lewis, I would have been there. (referencing previous Corrente post).

"VG"

Submitted by shaneS (not verified) on

Thank you for uploading the video. Debt ceiling is a cap set by Congress on the amount of debt the federal government can legally borrow. The cap applies to debt owed to the public (i.e., anyone who buys U.S. bonds) plus debt owed to federal government trust funds such as those for Social Security and Medicare. Indeed, this has been a hot polemic for months already. And just recently, Obama walks out of debt ceiling debate saying he has reached his limit, and this gained lot of reactions from all sectors.