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Myths of the Debt Ceiling Negotiations

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  • Description

    FBN’s Neil Cavuto on the myths and lies of the debt negotiations.

  • Duration 2:46
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-- little letter and it's not the debt -- that has investors worried it is the economy and right now it is tumbling.

And these guys and Washington are bumbling and frankly everyone else is just scaring and -- detail a lot of bridges lying tonight.

We do rides to decide welcome several I'm glad to have him guilty of it up ending years out of the mainstream media tell of the doubt felt through the floor.

Because these guys keep banging their heads against the wall now I'm not saying -- -- mess isn't playing a part I am sick.

This is much more about an economy that could be formidable -- More companies like Emerson Electric and Juniper Networks warning.

And now durable goods orders tumbling so for tonight steel what's real.

And what is not because -- the debt deadline ticks away it is time -- To address these over the double lies it -- -- Lot of folks -- lying to you.

Pick a party pick itself sick -- network -- a talking head.

Clearly in the over there heads especially when anyone of a missing stuff so over the top.

So -- -- so little time -- I Begin with myth number -- We -- on the brink of the call that is wrong we are on the brink of hitting up against our debt limit that is very different.

Myth number two we need to raise that limit or our credit rating will be downgraded need to break it to you.

But whether we raise that limit or not our credit ratings going to be downgraded.

Myth number three.

If we are downgraded we have defaulted.

Only if the president let that happen it doesn't make a federal payment or -- go to US bond holder -- his goal no one -- myth number four.

Hello this deadline to government shuts down.

Yes but not whole of the government because the funny thing about Washington shutting down -- taxes still keep -- again.

So it's up to the White House depicted -- what checks -- That number five the tea parties holding this deal hostage insisted Republicans.

Not raise taxes but apparently.

Some liberals are not insisting Democrats not go to -- cutting spending.

I say either blame them both are not at all and you can't have -- one -- not the other way that number six Republicans are being obstructionist on this budget.

We're at this point my friends because Democrats have more than 800 days late even -- -- A budget -- or is it that there is a lot of blame to go around here but but let's get this much straight I could go on the why bother.

He is already overtaken reality and the reality is we are on the brink not because of a deadline on spending.

But a history of -- Not just by Democrats but by Republicans by -- And the buck stops here.

But apparently that does not -- the truth stops.

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