MSNBC NOW With Alex Wagner October 8, 2013
Congressman Nick Mulvaney cut his own slice. The wild theory is that even if the u. S. Breaches the debt ceiling the treasury could continue to prioritize certain payments including social security. Its a line of logic refuted by cannot mists and most people with a general understanding of the way things work. Last week the Treasury Department learned default would lead to the events of the magnitude of late 2008 or worse. Credit markets could freeze, the value of the dollar could plummet, u. S. Interest rates could skyrocket, negative could spill around the world. Cost in 20111 million jobs a...