Ali Velshi did an excellent explainer on how House Republicans are planning to construct a contingency plan that will force the White House to accept massive spending cuts, and noted that Janet Yellin warned the House how critical it was to raise the ceiling, "Now, if Republicans decide not to lift the debt ceiling, it will undoubtedly start a fiscal shutdown that will have huge consequences for the American people, and possibly people all over the world," he said. He talked about how the debt ceiling historically works -- and how no, it can't be compared to how you handle household debt.