How the Government Can Tackle the Debt Limit Crisis
In the last two years under President Biden, the issue of the debt limit in America has come to the forefront of national discourse. The government has struggled to find a way to address the rising national debt, which has been exacerbated by the left’s reckless spending, COVID-19 pandemic, and the resulting economic slowdown. Policymakers have proposed a range of solutions, including tax hikes, spending cuts, and reforms to entitlement programs, but there has been limited consensus on the best way forward. The lack of a clear solution to the debt limit problem has created uncertainty in the financial markets and sparked concerns about the long-term stability of the US economy.
What can the government do about their debt limit problems? For more information, Lars speaks with John Cochran, the Rose-Marie and Jack Anderson Senior Fellow at the Hoover Institution. He is also a research associate of the National Bureau of Economic Research and an adjunct scholar of the CATO Institute.