Most Americans oppose raising the debt ceiling

In recent polls, 75 to 80 percent of Americans say they oppose lifting the debt limit, yet many economists and finance officials say it is imperative. Economist Louis Johnston explains the debate over the federal deficit, the debt and the health of the US economy. Might the US default?

Guests

• Louis Johnston: Professor of economics, St. John's University and College of St. Benedict. Author of major revisions of the 4th edition of "Principles of Economics" by Ben Bernanke and Robert Frank.

More from MPR

• Obama: Failure to reduce deficit will hurt economy
  April 19, 2011
• S&P cuts long-term outlook for US debt to negative
  April 18, 2011
• Geithner confident Congress will raise debt limit
  April 18, 2011

Resources

• about Louis Johnston