The (Fake) Debt Ceiling Crisis: The GOP’s Dangerous Gamble.
The debt ceiling crisis is a completely manufactured, self-inflicted wound that only the GOP sees fit to weaponize when it suits them. Forget the fact that it has been raised 78 times since 1960, 49 of which were under a Republican president—the House Republicans are determined to derail Biden’s economic gains any way they can. Today’s Topical Cream breaks down the fallacy of the debate and puts our budget in context with our debt.
Visit the episode's accompanying site page.
Chapters
Intro: 00:00:34
Section One: 00:00:58
Section Two: 00:04:11
Section Three: 00:09:31
Outro: 00:12:30
Resources
The White House: The Debt Ceiling: An Explainer
Congressional Budget Office: Federal Debt: A Primer
Center on Budget and Policy Priorities: Policy Basics: Deficits, Debt, and Interest
U.S. Department of the Treasury: Debt Limit
Investopedia: Why China Buys U.S. Debt With Treasury Bonds
NPR: < China's slice of the US debt pie
Center on Budget and Policy Priorities: House Republicans’ Pledge to Cut Appropriated Programs to 2022 Level Would Have Severe Effects, Particularly for Non-Defense Programs
CNBC: As U.S. hits debt ceiling, here’s what it could mean for Social Security and Medicare
National Committee to Preserve Social Security and Medicare: Raising The Debt Limit: Impact on Social Security and Medicare
Politico: ‘Intellectually bankrupt’: Biden allies blast GOP debt-limit backup plan
Center on Budget and Policy Priorities: 5 Reasons Why the House Balanced Budget Amendment Is a Bad Idea
Population Reference Bureau: Aging Baby Boomers to Face Caregiving, Obesity, Inequality Challenges
UNFTR Episode Resources
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