PODCAST: Debt Ceiling Drama

Many Americans may not realize that the current debt ceiling debate is not about future expenditures but about already-promised current obligations. The wheel goes round and round and round and yet it still comes out the same. Yesterday’s bills must be paid today, regardless of the objections. Economist Jerry Robinson breaks it down and sorts it out in simple, often humorous, terms.

• What exactly is the debt ceiling?
• Did you know? The debt ceiling debate is not about new spending
• The current political agenda is always lying at the forefront
• Audio clips to make it clear…
• The debt ceiling is raised by both Republicans and Democrats
• The impact of a U.S. default
• And guess who’s watching and quietly waiting in the wings?

Jerry closes out today’s show with a powerful reminder of the consequences of living beyond one’s means.