On last night’s “All In,” MSNBC host Chris Hayes tried to debunk the Republican talking point that raising the debt ceiling is akin to “maxing out the country’s credit card.”
The common refrain — one that the president has had to deal with during every major fiscal skirmish — is that the country’s debt can be easily compared to household debt.
“Get this, this country has run a deficit in 45 of the last 50 years,” Hayes says in the segment, “No household could get away with that, but then again, no household has the ability to print its own money either.”
“The debt limit, to quote President Kennedy, does not and cannot control expenditures, all blocking the debt ceiling does is send an incredibly dangerous signal to the world that the U.S. might not deserve to be the single most trusted borrower on earth.”
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