The Debt Ceiling Is Going to Run Out

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This battle over the debt limit happens regularly in Washington. Why does it seem like people are getting so worked up this time around? The main reason why we're getting worked up is that the margins and the House of Representatives are very, very narrow. It only takes a handful of objectors to hold up a bill or raise the debt ceiling. What they want more or lessare very, very big budget cuts.

The US is set to hit the debt ceiling today and Microsoft plans to cut 10,000 jobs to bring down costs. Plus, the FT’s Katie Martin reports from Davos on the tense relations between the US and Europe over America’s new expensive green subsidies law.

Mentioned in this podcast:

EU makes green pitch to rival US subsidy splurge

Microsoft to cut 10,000 jobs in push to bring down costs

The US hits the debt ceiling today. What happens next?

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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