A Congressional deadline to address the debt ceiling is looming at the beginning of August. Why is the smart thing to do nothing until Congress and the states pass a new Constitutional amendment establishing restrictions on spending? Why is the administration’s claim that we will soon default on our debt an “outright, absolute lie”? We ask George Mason University Economics Professor Thomas Rustici. Rustici explains why raising the debt ceiling only makes things far worse. And while he says Paul Ryan’s budget plan is not a perfect plan, he calls those who distort and demagogue the plan “morally obscene”. Listen here for expert insight on the urgency of our debt crisis and for Dr. Rustici’s analysis of whether the American people are ready to do what is necessary to solve our economic mess.
