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The Reality About The Fiscal Cliff And Debt Ceiling

10:04 AM, Jan 1, 2013   |    comments
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We've been talking about the "Fiscal Cliff" for months, but there's another issue on lawmakers minds - the debt ceiling.
The U.S. reached its legal borrowing limit of 16.4 trillion dollars yesterday. The Treasury Department is now trying to buy time until the end of February.  One temporary solution is to suspend investments in benefit funds for federal workers. But after that, The Treasury Department will not be able to pay all of the country's bills in full and on time.

Congress must vote to raise the debt ceiling setting the stage for another fight on Capitol Hill. Jason Husser, a political science professor at Elon University stopped The Good Morning Show to explain what this means for the economy and your wallet.








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