Listen to Bloomberg's controversial debt comments.
'U.S. credit is infinite. Other countries let us get away with borrowing an unlimited amount of money.'
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New York Mayor Bloomberg discusses the sequester on his weekly radio show:
"We are spending money we don’t have. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money."