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.