The debt debate: What’s real and what’s disingenuous

House Speaker John Boehner raised the specter of another debt ceiling fight; insisting that Congress would not raise the debt limit this time around, unless he gets cuts and reforms greater than the debt limit increase. Then the GOP controlled House goes ahead and passes the Defense Authorization Bill -- adding $8 billion more than the spending caps in last year's budget and almost $4 billion more than what President Obama requested. Up host Chris Hayes, along with panelists Betsey Stevenson, former Chief Economist for the Obama Labor Department, Karl Smith, assistant professor of Economics and Government at The University of North Carolina at Chapel Hill, and MSNBC policy analyst Ezra Klein, discuss whether the debt limit should be a crisis at all.May 20, 2012