Why the debt ceiling absolutely, positively, will be raised

In just 58 seconds, an economist makes an ironclad argument for expanding the government's authority to borrow

Published May 20, 2011 6:27PM (EDT)

Economist Douglas Holtz-Eakin skews to the conservative side of the political spectrum, but in just under one minute he makes an awfully compelling case for why only complete imbeciles think that simply not raising the debt ceiling is a legitimate scenario. Next time you hear someone argue that the U.S. government can default on its debt without consequences, point them to this:

By Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

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