Congress Won’t Let The US Default on Its Debt. Right?
Big Take16 Mar 2023

Congress Won’t Let The US Default on Its Debt. Right?

The White House and Congress are battling over raising the nation’s $31.4 trillion debt ceiling. If they don’t act and the US defaults on its debt this summer, the economic shockwaves will be felt across the nation and around the world.

Even so, the conventional wisdom in many parts of Washington and Wall Street seems to be: don’t worry, in the end of course they’ll reach a deal.

But relying on conventional wisdom is often…unreliable. Though congressional leaders managed to overcome their differences and raise the debt ceiling in the past–often at the 11th hour, after all the brinkmanship had played out–what if this time is different?

Bloomberg journalists Liz McCormick and Erik Wasson join this episode to game out the scenarios and gauge how concerned we should be about the possibility that the rancor and acrimony in Washington will lead to a debt default for the first time in US history.

Read more: https://bloom.bg/3JkoEqX

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

See omnystudio.com/listener for privacy information.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(968)

Weekend Listen: Why Private Credit Got Entangled With Insurance

Weekend Listen: Why Private Credit Got Entangled With Insurance

Insurers have quietly become a major driver of the private credit boom, with numerous private equity shops striking deals with insurance companies or buying them outright. But the entanglement with pr...

2 Aug 51min

The Future of the Democratic Party Runs Through Michigan

The Future of the Democratic Party Runs Through Michigan

The path to the future of the Democratic Party — and to the White House in 2028 — may well run through Michigan. The state’s upcoming Democratic primary election is a highly anticipated showdown betwe...

31 Jul 18min

‘Skimpflation’ Could Be the Sneakiest Consumer Grift

‘Skimpflation’ Could Be the Sneakiest Consumer Grift

From margarine to chocolate treats, some brands are swapping in cheaper ingredients to save money on their most beloved products. It’s a trend known as “skimpflation.” But what happens when consumers ...

30 Jul 16min

Can We Trust Election Prediction Markets?

Can We Trust Election Prediction Markets?

With the US midterms fast approaching, voters and the media are increasingly looking to a new forecasting tool: prediction markets. The leading platforms, Kalshi and Polymarket, have been touted as a ...

29 Jul 18min

How India’s Cockroach Party Became a Political Force

How India’s Cockroach Party Became a Political Force

Weeks of student-led protests forced the resignation of India’s education minister, in a rare public setback for Prime Minister Narendra Modi. On today’s Big Take Asia podcast, guest host Rebecca Choo...

28 Jul 18min

Trump Rebuilds His Tariff Wall, Brick by Brick

Trump Rebuilds His Tariff Wall, Brick by Brick

As President Trump paused strikes on Iran over the weekend, he ratcheted up pressure on another front: his renewed trade war. On Friday, the US president imposed levies of 10 or 12.5% on 60 economies,...

27 Jul 16min

Weekend Listen: Can the US Actually Tax Billionaires?

Weekend Listen: Can the US Actually Tax Billionaires?

As wealth becomes increasingly concentrated — and artificial intelligence threatens to shift even more income from workers to investors — has the US tax system become outdated? On this Weekend Listen,...

26 Jul 23min

One Weird Trick to Get Your Credit Card Charge Reversed? Fraud.

One Weird Trick to Get Your Credit Card Charge Reversed? Fraud.

American consumers disputed nearly 30% more credit card transactions in 2025 than they did just four years earlier. Some of those “chargebacks” are legitimate issues or outright scams. But increasingl...

24 Jul 15min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
forklart
popradet
stopp-verden
rss-gukild-johaug
det-store-bildet
hanna-de-heldige
rss-ness
nokon-ma-ga
rss-penger-polser-og-politikk
dine-penger-pengeradet
aftenpodden-usa
aftenbla-bla
e24-podden
amerikansk-politikk
lydartikler-fra-aftenposten
fotballpodden-2
liverpoolno-pausepraten
rss-optimisten-pessimisten-realisten