Michael Strain on Averting the Looming Debt Ceiling Disaster
Macro Musings with David Beckworth
00:00
Do Republicans Really Understand the Significance of Defaulting on US Bonds?
Do you think those five to 20 members of the Republican Party, push comes to shove, will they back down if there's no agreement by that time? Do they recognize this privilege we have and we don't want to blow it? I think that there are a large number of Republicans who don't understand the significance of this. It's not the case that everybody agrees that there would be a real catastrophe if the US were to not increase the debt ceiling in time.
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