economy from paul craig roberts former assistant treasury secretary in the reagan administration paul bearing in mind your previous post this is something of great interest to you the u.s. is narrowly avoided but so many people have said to me today this isn't the end of its financial troubles what do you have to say about what you've been witnessing. my prediction here is that as the economy worsens which theory there will be a new deficit projection and issued new budget for parents surely. the governors of deteriorating economy the deficit is widened by more than the debt limits. deal and it's cut and so you have parents that debt will be reduced rules will be wiped out by the new budget forecast and it will all disappear and they experiencing economy so hell sustainable is it to continue increasing the debt in the long term can washington really carry on in this way. well they they will never default on the debt because it is denominated in u.s. dollars and so the federal reserve can create all the necessary money to redeem the debt it's not default that's the problem it's whether

especially today will agree with that statement columnist and former reagan administration official paul craig roberts. well you could say everyone and no one is happy about this and we move forward with a bill that is largely considered nothing short of what so were there winners and losers in this fight and if so who are going to help answer that question i spoke to see the president of less government and dr caroline hellbent professor of politics at occidental college i asked them first what they would have done if they were in charge of crafting this bill to come out of the hole cut up front because that's only thing they can control this congress with the only thing they can control i would also tied a debt ceiling to a balanced budget and then we have a two thirds super majority to raise taxes all right caroline your current. well if we hadn't seen dysfunctional government this time around we'd certainly see it if we had a super majority for a budget but what i would do is get rid of our structural deficit problem by a same week that the federal government can negotiate with prescription drug c