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.

Episoder(882)

An Armed Uprising Punctures Putin’s Aura of Invincibility

An Armed Uprising Punctures Putin’s Aura of Invincibility

Moscow is quiet again after an armed insurrection in Russia over the weekend ended as quickly as it began. But the uprising has left President Vladimir Putin weakened in the eyes of many Kremlin watch...

26 Jun 202321min

America Is Divided Over Everything...Except Chicken

America Is Divided Over Everything...Except Chicken

Americans love beef, and always have. But when it comes to the meat they actually choose to eat, chicken takes the crown. Bloomberg’s Matt Townsend and Leslie Patton join this episode to explain how p...

23 Jun 202326min

Microsoft's Big Investment In AI Is Paying Off

Microsoft's Big Investment In AI Is Paying Off

Microsoft is a household name when it comes to Word docs, Excel spreadsheets and PowerPoint presentations, but it’s not the first name many people think of when it comes to cool new tech. At least unt...

22 Jun 202326min

Aging Boomers Will Need Lots Of Care. We're Not Ready

Aging Boomers Will Need Lots Of Care. We're Not Ready

By 2030, people over the age of 65 in the US will outnumber those under 18. That’s in part because people are living longer—a testament to modern medicine. But are our health systems and social progra...

21 Jun 202328min

Canada's Ambitious Immigration Experiment, Explained

Canada's Ambitious Immigration Experiment, Explained

Anti-immigration sentiment has been rising on the right in many countries around the world, including the US, UK, France and Italy–even as these nations are grappling with declining birth rates and ag...

20 Jun 202321min

Team Favorite: Banks Vowed To Help Black Homebuyers. What Happened?

Team Favorite: Banks Vowed To Help Black Homebuyers. What Happened?

NOTE: This episode originally aired in December 2022.---In the aftermath of the 2008 financial crisis, some of the biggest mortgage lenders in the US promised to extend billions in new loans to Black ...

19 Jun 202331min

Here Comes El Nino Again, And It's Packing A Punch

Here Comes El Nino Again, And It's Packing A Punch

We’re on the cusp of a natural – but significant – shift from a cooling weather phase known as La Niña to its considerable opposite–El Niño. This change will bring warming trends globally, and many un...

16 Jun 202322min

States Tell Cities: Yes, You’ve Got to Build Housing

States Tell Cities: Yes, You’ve Got to Build Housing

America’s affordable housing shortage has been getting worse for decades. Now, some states are trying to ease this crisis by enacting what's been called a “builder's remedy.” These are rules that over...

15 Jun 202327min

Populært innen Politikk og nyheter

giver-og-gjengen-vg
aftenpodden
aftenpodden-usa
forklart
popradet
stopp-verden
dine-penger-pengeradet
rss-gukild-johaug
det-store-bildet
nokon-ma-ga
fotballpodden-2
lydartikler-fra-aftenposten
hanna-de-heldige
rss-ness
aftenbla-bla
rss-espen-lee-usensurert
rss-dannet-uten-piano
rss-penger-polser-og-politikk
frokostshowet-pa-p5
e24-podden