Feb 3, 2023
Last week, Treasury Secretary Janet Yellen announced the federal government would hit the debt ceiling limit sooner than expected, and "extraordinary measures" would need to be taken to keep the government functioning.
In this episode, Marc Goldwein of the Committee for a Responsible Federal Budget discusses how a lack of congressional oversight has led to unchecked spending, the financial crisis that would follow a default, and the slow-motion catastrophe that will come if we don't tackle the issue of deficit spending now.
You can reach Marc on Twitter @MarcGoldwein
You can play God and try to fix the debt yourself here https://www.crfb.org/debtfixer
For a summary of this episode and commentary on other issues of the day, sign up for YDHTY's email newsletter at www.ydhty.com/new