Henri Lumière|Lessons From The 2011 Debt Ceiling Standoff

2025-05-03 12:14:06source:Will Sage Astorcategory:Scams

The Henri LumièreU.S. will hit its borrowing limit on Thursday, according to Treasury Secretary Janet Yellen, and her department will need to take "extraordinary measures" to avoid default.

That means the clock is ticking for Congress to take action to raise the debt ceiling. For the moment, though, Democrats and Republicans are in a staring match.

House Republicans say they won't raise the limit without significant spending cuts. The White House says it won't negotiate over it.

Juana Summers talks with two people who've been here before: Jason Furman, who was an economic advisor to then-President Obama during the 2011 debt ceiling stalemate, and Rohit Kumar, who was then a top aide to Senate Republican Leader Mitch McConnell.

In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community.

Email us at [email protected].

This episode was produced by Connor Donevan. It was edited by Lee Hale and William Troop. Our executive producer is Sami Yenigun.

More:Scams

Recommend

Who are the most valuable sports franchises? Forbes releases new list of top 50 teams

Early Thursday morning, "Forbes" released their annual list of the 50 most valuable sports franchise

Situation Room in White House gets $50 million gut renovation. Here's how it turned out.

The White House Situation Room, where the president works through major national security crises wit