What happens if the U.S. government can’t pay its bills?
Exchanges
00:00
Republicans' Proposal to Lift a Debt Ceiling in Exchange for Spending Cuts and Policy Changes
The biggest payments that the treasury makes are Social Security, Medicare, Medicaid. A lot of these things go out on a set schedule that's set years ahead of time based on the calendar and would be difficult to turn off quickly. The proposal passed last week in the House had around $4.8 trillion in deficit reduction.
Transcript
Play full episode
