Archive for the ‘richard liu’ tag
In this clip, MSNBC’s Richard Lui explains the debt ceiling in a physical demonstration that would offend the intellect of a toddler.
The so-called “debt ceiling” are words that sound like Greek to a lot of people.
Are you sure? I think the meaning of “debt ceiling” is fairly self-evident. Perhaps it sounds like Greek to Richard Lui because, as one of the commenters on this YouTube clip points out, Lui misunderstands the very concept he means to explain:
- The debt ceiling is not like “the government’s credit card.” The borrowing limit of the U.S.A. is not determined by creditors, at least not in any direct sense. It is self-imposed.
- “Spending” does not equal debt. Spending in excess of revenue may incur debt, but spending is not debt.
Simultaneously condescending, silly and wrong. I would expect nothing less from MSNBC.