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National Debt

What is national debt and how does it affect our economy?

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Make Me Smart | Episode 935

Extraordinary measures for extraordinary times

May 31, 2023
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National Debt

The debt limit deal would reduce government spending by about $1.5 trillion

by Justin Ho
May 31, 2023
Reduced government spending can have an impact on the broader economy. But economists say the effects will likely be limited.
"It does slow the economy, but not in a particularly meaningful way," said economics professor Justin Wolfers of the debit limit deal reached by House Speaker Kevin McCarthy and President Joe Biden.
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I've Always Wondered ...

Who does the U.S. owe $31.4 trillion?

by Janet Nguyen
May 26, 2023
Our creditors range from private investors to foreign governments. Some seek to align the debt limit with the budgeting process.
The debt limit is the amount of money the Treasury can borrow to meet its obligations. The deadline for Congress to lift the limit, lest the U.S. default, is quickly approaching.
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National Debt

How the debt ceiling fight puts the indispensable U.S. Treasurys market at risk

by Matt Levin
May 26, 2023
The $24 trillion Treasury bond market plays an important role in the global financial system. Is there any viable alternative?
"U.S. Treasurys are the safest asset anywhere, even in the case of default," says Yesha Yadav from Vanderbilt. This is why essentially the entire global financial system buys U.S. government debt whenever there's a panic.
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Make Me Smart | Episode 932

The U.S. Treasury is running out of cash

May 25, 2023
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National Debt

Where does the US credit rating come from?

by Kai Ryssdal and Andie Corban
May 25, 2023
Atsi Sheth from Moody's gives us a behind the scenes look into the company's ratings process.
"In the most basic terms, a credit rating is really an opinion on the credit quality of any entity that borrows on the debt capital markets," said Atsi Sheth at Moody's Investors Service.
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National Debt

When will the U.S. run out of money? It’s tough to say.

by Justin Ho
May 25, 2023
Predicting the exact timing of a government default is difficult, given the amount of the variability in government spending and revenue.
Even Treasury Secretary Janet Yellen admitted it’s hard to be exactly sure when a default could happen.
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National Debt

What happens to benefit checks if there's no deal on the debt ceiling?

by Samantha Fields
May 23, 2023
Supplemental Security Income payments and veterans 'payments could be among the first checks to be delayed.
Speaker of the House Kevin McCarthy is scheduled to meet with President Joe Biden to continue debit limit negotiations. Experts agree that a default would cause a massive pause on regular government payments to individuals in need.
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National Debt

The messy money reality at the center of the debt ceiling fight

by Kai Ryssdal , Richard Cunningham and Maria Hollenhorst
May 22, 2023
Raising the federal government’s borrowing limit isn’t about spending. It’s about how money works.
Unless the White House and Congressional leaders can make a deal to lift or suspend the debt limit, the U.S. could default on its debts as soon as June 1.
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Make Me Smart | Episode 928

The back and forth over the debt ceiling

May 19, 2023
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