Why Congress must Raise the Debt Ceiling- CNN Interview

On a recent interview with CNN’s Suzanne Malveaux, Gazelle Index CEO outlined his view on the debt ceiling debate. See Video of Interview

CNN_Interview with Gazelle CEO Danny Boston Jan 14, 2013

Failing to raise the debt ceiling will have serious short-term and long-term consequences. In the short run the Administration must decide whether on a monthly basis it will pay Social Security benefits, Medicare recipients, veterans benefits or the salaries of active duty personnel or interest payments to government bond holders.

In the long-run,  our failure to pay our national debt and negotiate a reasonable plan to reduce it would mean we are not worthy of the role of leader of the world’s economy. As such, we can expect foreigners to disinvest in US treasuries and search for an alternative to the dollar as an international reserve currency and Wall Street as the center of world finance.