The Importance of Probability in Policymaking

Ben Harris, former Assistant Secretary for Economic Policy at the US Treasury, summarizes the latest proposal for raising the debt ceiling. An acceptable deal seems to be within reach but remains politically uncertain even as the x-date draws near.  What are the alternatives if no deal is reached?  And what could be the consequences for bondholders, Social Security recipients, and other stakeholders?  Ben joins Mark and Cris in a round of the Inside Economics Statistics Game and provides his views on the future of retirement financing.

For more on Ben Harris, click here

For the full transcript, click here

Follow Mark Zandi @MarkZandi, Cris deRitis @MiddleWayEcon, and Marisa DiNatale on LinkedIn for additional insight.

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