Sheldon to Maddow: debt ceiling damage has begun

Rachel Maddow and the object of her political affection, Senator Sheldon Whitehouse, made the case last night that even getting this close to the debt ceiling is an irresponsible way to manage money.

“There are two consequences of not raising the debt ceiling,” Whitehouse told Maddow last night. “One is if you actually don’t do it and then markets and interest rates adjust in probably unimaginably bad ways. But even when you get close other countries bankers people buying treasuries, securities look around and think this security doesn’t seem quite as secure as it used to. I think I’m going to have to charge a little bit more to come in and be a buyer and because we pay the interest that comes right out of the taxpayers pocket.”

You can watch it here (Sheldon comes on at 10:00 minutes)

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