At the government's current rate of spending, the U.S. will hit its debt ceiling in early August, unless Congress votes to raise the ceiling. Although House Republicans agreed to vote on a measure that would raise the debt limit, without spending cuts, the extension won't pass - a truth President Obama has acknowledged.
James Rosen spoke to Shep about the politics behind the vote and the details of negotiations to come.
Shep: We've never defaulted before.
Yes we have. Three times in fact.
j1a2r34 9 months ago
NO MORE NEW LAWS. STOP RAISING DEBT FOR OBUMMERS VACATIONS AND TRIPS TO CAMPAIGN FOR UNITED NATIONS. HE CAN SPEND HIS OWN MILLIONS, BILLIONS, SPOOKY DUDES TRILLIONS.
Irislogu12 9 months ago
Imagine the average individual handling debt the same way this nation does. In debt-get more credit cards!
edwardpf123 9 months ago
dont raise it! and yes we have defaulted before...
oldtimefreedom 9 months ago
all this only means WAR
raw5069 9 months ago