VIDEO: Should the Government Raise the Debt Limit?
I spoke with a couple of people in Iowa City today to ask them just that.
I ventured around downtown Iowa City Wednesday afternoon to see if I could grab some video of what people in town feel about the debt ceiling stalemate that is going on in Washington D.C. right now.
Most of the more than 20 people I talked with refused to speak on camera, many of them saying that the debt ceiling issue was too complicated for them or that they had not been following the debate.
Two brave citizens, however, stepped up to the challenge.
Brief Background: President Barack Obama wants to raise the $14.3 trillion debt ceiling to allow the U.S. Government to borrow more to pay its bills. He has offered to offset the fact that this will cause America's debt to rise even higher with a combination of spending cuts and tax increases.
Republicans, some of them arguing that the U.S. should not raise the debt ceiling at all, have bristled at any tax increases, even to those on significantly high incomes. As a caucus, the Republicans continue to demand spending cuts while insisting any tax increases would slow the already stagnant economy.
President Obama has said he wants to reach a deal on the issue by Aug. 2.
You can lead the latest about this budget battle here.