Maya McGinnis: We need savings of as much as $8 trillion just to keep our debt not growing relative to the economy. The best thing would be to do is kind of start in small bites and get Congress used to budgeting, she says. "We are headed to where our debt as a shared economy will be the highest it's ever been"
In January of this year the U.S. hit its maximum borrowing limit of 31.4 trillion dollars. Now the White House is demanding that Congress raise the debt ceiling and allow the administration to borrow more money. The GOP House says an agreement must include spending cuts. In this Sunday extra episode of Morning Wire we speak to a bipartisan expert about the importance of the debt limit.
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