Good primer on the debt impasse

Today's edition of "To the Point" looks at the possible consequences of the Congress not raising the debt ceiling by Aug. 2. The general consensus is that the government will somehow be able to raise the debt level, although getting there is not likely to be pretty. Among Warren Olney's guests is law professor Garrett Epps, who says that President Obama could get past the statutory debt limit by directing Treasury Secretary Tim Geithner to keep borrowing. A number of legal scholars have said that the 14th Amendment that all debts be paid, no matter what. Interesting stuff.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the Homogenocene
One last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing

New at LA Observed
On the Media Page
Go to Media

On the Politics Page
Go to Politics
Arts and culture

Sign up for daily email from LA Observed

Enter your email address:

Delivered by FeedBurner


Advertisement
Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
LA Observed on Twitter and Facebook