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The Debt Debate Unraveled46:25
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The high-stakes, dangerous dance over the debt ceiling, the deficit, and taxes, and where we’re headed.

Senate Minority Leader Mitch McConnell, accompanied by Senate Minority Whip Jon Kyl, talk about the debt negotiations during a news conference Tuesday. (AP)
Senate Minority Leader Mitch McConnell, accompanied by Senate Minority Whip Jon Kyl, talk about the debt negotiations during a news conference Tuesday. (AP)

It was grim to grimmer in White House debt ceiling talks and beyond yesterday.

The president, saying social security checks may stop in August if there’s no deal. GOP Senate leader Mitch McConnell saying no solution while Barack Obama is in office.

Nearly 500 top business leaders saying holy cow guys, don’t croak the country here. Don’t croak the economy.

And then, a little tiny ray of possibility. McConnell, with an option that would scrape past the ceiling and keep this debate going all next year.

This hour On Point: the most dangerous dance, and the debt ceiling.

-Tom Ashbrook
Guests:

Laura Meckler, White House reporter for The Wall Street Journal.

Jerome Powell is a visiting scholar at the Bipartisan Policy Center in Washington, DC, where he focuses on state and federal fiscal issues. You can find more BPC work on the debt ceiling here.

Matthew Yglesias, an influential blogger and fellow at the Center for American Progress Action Fund.

Reihan Salam, is the author of National Review Online’s The Agenda, a daily web log centered on domestic policy.

From Tom's Reading List:

This program aired on July 13, 2011.

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