Sunday, July 17, 2011
I attempted and failed miserably at explaining the debt ceiling and its importance to a friend. There was a lot of wild gesturing and then a heavy sigh at the end. I think it comes from how debt ceiling, deficit and budget are inexorably intertwined. And the next thing you know states are facing the same budget crises that they faced this past year. A problem that will persist until we are out of this hole. Anyway, if you have been wondering what this is all about, Ali Velshi explains it here.