This is a misnomer, that I believe that president and the Treasury Secretary have been trying to pass off on the American people. And it's this. That if Congress fails to raise the debt ceiling by $2.5 trillion that somehow the United States will go into default and we will lose the full faith and credit of the United States. That is simply not true.
Michele Bachmann argues against the notion that failing to raise the debt ceiling will lead to a default.
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