The Debt Ceiling and the Republicans' Debt Debt Talk

The debt ceiling is set to be reached on June 1st. CNN's John Avlon says Democrats feel as though they're winning if the conversation is about the debt ceiling. Republicans, he says, believe that spending now is so out of control and such a constraint on our economy it could be extraordinary in order to force spending reductions. Avlon: Biden has really misplayed this so far because he's the guy who wants to talk constantly about Ultramaga. The Fed is expected to raise interest rates next week.