The Debt-Ceiling Debate is Full of Malarkey

In the video below, ReasonTV's Nick Gillespie points to three reasons why the current debt-ceiling debate is ridiculous and full of falsehood.

1. August 2nd is a Phoney Deadline
2.Reaching the Debt Ceiling is NOT Defaulting
3. Legislating-by-Panic is No Way to Run a Country

For weeks I have talked to both conservative and liberals about this issue and one thing has been crystal clear: no one seems to know what they are talking about. When I correctly stress the points below (especially the second point) I am stared downed as some kind of idiot by folks from all political backgrounds. Sadly, many seem to have a deep commitment to a certain course of action without a lick of understanding regarding the issue.

What is clear is that we need to stop this unconstitutional and unsustainable spending. We need to do it in a timely manner, and we need to cut spending without raising taxes. What we don't need to do is allow fear and misunderstanding to give us more of the same policies that got us into this mess.