Video on msnbc.com: NBC’s Kate Snow spoke with CNBC’s Andrew Ross Sorkin about the debt ceiling and what happens if Congress fails to raise that limit so the government can borrow more money to pay its bills...
This video is about the debt ceiling and what happens if we reach it, and also what happens if we default on our debt.
I think it's true, what they talk about in this video. Many, if not most, Americans are confused about the debt ceiling and what it precisely means. Also, what happens if we reach that ceiling. So much rumor and blame has been floating around, what with the government shut down. Many Americans simply don't know what to believe. Sorkin explains it clearly and concisely: either we give up some stuff, or some stuff gives up on us.
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