The debt ceiling drama

You’ve probably heard by now that President Joe Biden released his 2024 budget proposal. You’ve also probably heard that it has almost no chance of passing through both chambers of Congress. What is likely to come to pass is more drama over a recurring problem: the fight over the debt ceiling. If the US doesn’t raise the ceiling and defaults on its debt, financial catastrophe would ensue. What does that mean for the country’s fiscal future?

References: What’s in Biden’s new White House budget - Vox Biden’s billionaire tax proposal, explained - Vox House Republicans are taking steps to prepare for a possible debt ceiling default - Semafor President's Budget | OMB | The White House

Guests: Joseph Zaballos-Roig (@josephzeballos) Kathleen Day (@kathleenday)

Credits: Jonquilyn Hill, host Sofi LaLonde, producer Cristian Ayala, engineer A.M. Hall, editorial director of talk podcasts

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