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Secretary Janet Yellen estimates that the U.S. could default on October 18 if Congress doesn't act to raise the debt ceiling. I joined CBS Mornings to talk about the possible impacts on the economy.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Like a recurring bad dream, the debt ceiling is back in the news. The periodic political spasm over increasing the amount of money that the government is authorized to borrow to meet its existing legal obligations is not new, but because it comes on the tail end of a global pandemic, it seems horribly ill-timed.
Secretary Janet Yellen estimates that the U.S. could default on October 18 if Congress doesn't act to raise the debt ceiling. I joined CBS Mornings to talk about the possible impacts on the economy.
