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Jay & Shai's debt ceiling adventure (Update)

Overview

Shownote

Highlights

Transcript

Chapters

Pins

Jay & Shai's debt ceiling adventure (Update)

Planet Money

2025/06/19
Planet Money

Planet Money

2025/06/19
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

Note: A version of this episode first ran in 2023. Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Once we ...

Highlights

The U.S. faces a recurring challenge as it spends more than it earns, leading to the need for borrowing and managing debt limits. This podcast delves into the complexities of the debt ceiling, focusing on the X-Date—the critical point when the government may default on its obligations if action isn't taken.
05:31
Congress has adjusted the debt ceiling 78 times since 1960.
14:28
If the debt ceiling is not raised, the U.S. would be unable to pay about half of non-debt-related bills.
22:54
The trillion-dollar coin is considered a gimmick to bypass the debt ceiling.
29:11
Moody's downgraded the U.S. credit rating after Fitch and S&P.

Chapters

Why Does the U.S. Keep Borrowing More Than It Earns?
00:00
What Lessons Did We Learn from the 2011 Debt Ceiling Crisis?
05:31
How Close Are We to the X-Date Right Now?
11:48
What Happens If We Hit the Debt Ceiling?
17:20
Can We Predict and Prevent the Next Fiscal Deadline?
26:00

Transcript

Speaker 4: This message comes from Carrier, committed to providing climate and energy products and services to help enhance lives. More information is at Carrier.com. Carrier, for the world we share. Shai Akabas: This is Planet Money from NPR. Amanda Aro...