With the August first 1 deadline looming congressional leaders are still mired in debate over what to do with the nation's debt ceiling. President Obama wants a long term budget cutting solution to accompany raising of the debt ceiling. But the Republican plan would run only to the end of the year. Both sides are accusing the other of political posturing and leaders are working out the details in bills in the House and Senate. But what does it all mean? UNLV's Stephen Brown, director of the Center for Business and Economic Research has just penned an analysis of how the deficit and debt ceiling tie together. Brown joins us to give his take on the nation's debt crisis.
Stephen P. A. Brown, Prof of Economics and Dir, CBER, UNLV
Karoun Demirjian, political reporter, LV Sun