Veronique de Rugy on C-SPAN, Talking Debt Ceiling

Reason columnist and Mercatus Center economist Veronique de Rugy and Peterson Institute's Joseph Gagnon talk about the federal debt ceiling, which was just hit today. Click above to watch them on C-SPAN's Washington Journal (about 25 minutes).

And click below to watch Reason.tv's 45 second take on the matter:

Go here for more details.

Comments

[John]

We are not going to "default on our debt". At most we will miss a payment. Defaulting is when you write off the debt and say you are never paying it or a portion of it. What would happen if the debt ceiling were not raised is we would not pay our debts for a few days or weeks until a deal is reached. The market would no this and hold onto their T Bills knowing they were going to be made whole at some point. If it were a default, people would just throw away their T Bills.

I wish the media would do some reporting for once and talk about what is really going on here.

[JoshINHB]

I wish the media would exercise the critical think of an adolescent instead of mindlessly parroting whatever statist propaganda is pushed at them.

The media is a complete joke.

[Tulpa]

I for one hope Mr Bailey never sells his Exxon shares, because the disclosure statements get more and more entertaining as time goes on.

[The Debt Floor]

What am I, chopped liver?

[J[o]h[nn]y Long[torso]]

yes

[KM8392]

Just b/c we hit the ceiling doesn't mean we should increase it. It means we need to cut spending and start paying down our debt (like normal people would)

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