Tuesday, June 28, 2011

The truth about the debt ceiling debate

Many Americans are confused about the debt ceiling debate that is going on in Washington.  So, what’s the real story?  What is the debate all about?  Why is raising the debt ceiling important?  What might happen if the debt ceiling is not raised by August 2nd.

MSNBC recently interviewed Robert Greenstein, President of the Center on Budget and Policy Priorities, on what the debt ceiling is all about and the risks of not raising the debt limit.  Greenstein provides one of the best explanations I’ve seen.  Here is the interview.

If video doesn't play, click here to see the interview:

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