How much debt can the US government handle? | The Bottom Line
How much debt can the US government handle?
Democrats and Republicans use the federal budget to decide on the future direction of the country.
Both the Democratic and Republican parties in the United States agree that the government should borrow more money, but they disagree on spending priorities.
Is ballooning debt a problem? Is it a necessary evil? Can’t the US just print more money whenever it needs?
These are the issues on the table as negotiations start between Congress and the White House on raising the legally mandated limit on government borrowing, known as the debt ceiling. Currently the ceiling is set at $31.4 trillion.
On The Bottom Line, host Steve Clemons asks federal budget analysts Bobby Kogan and Gordon Gray about the next steps in the debate over runaway government spending.