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Robert P. Murphy, senior fellow at the Ludwig von Mises Institute,
discusses the skirting the US debt ceiling, which can continue for a few
more months, the GOP’s current pretensions of fiscal restraint, why a
failure to raise the ceiling doesn’t mean default is impending since
spending could be cut or govt. assets sold, how missed payments to bond
holders would bring a big increase in interest rates, as in greece;
debt/gdp ratios and economic death spirals, and the Republicans who
converted to free market radicals – at least rhetorically – when Obama
was elected.

Podcast: Play in new window | Download (Duration: 18:24 — 4.2MB)