Big Take America’s ‘Debt Spiral’ Is Nearing a Critical Threshold
Feb 2, 2024
Bloomberg reporter Liz McCormick and Phillip Swagel, director of the Congressional Budget Office, discuss America's increasing national debt reaching $34 trillion, surpassing defense spending. They explore the acceptability of the debt, its impact on the economy due to tax cuts and COVID-19, rising interest rates, lack of political will, and the influence of bond markets on the crisis.
Chapters
Transcript
Episode notes
1 2 3 4 5
Introduction
00:00 • 3min
Understanding Deficit and the US Government's Debt
03:00 • 3min
The Impact of Rising Debt and Interest Rates
06:15 • 5min
The Political Challenges and the Role of Treasury Bonds in the US Debt Spiral
11:39 • 2min
The Influence of Bond Markets on Government Economic Agendas
13:56 • 2min