INTERVIEW | The Debt Ceiling Debate, Explained
The debt ceiling fight continues in Washington, more than a week after the U.S. hit its legislated debt limit of $31.4 trillion.
"The Treasury Department has hit the federal borrowing limit at $31.4 trillion, and they're going to be able to use cash-management techniques to be able to extend what we call the 'X date' of when they're going to ask for the debt limit to actually be raised, somewhere until later in the summer," says Matthew Dickerson, senior adviser on budget policy at The Heritage Foundation. (The Daily Signal is the news outlet of The Heritage Foundation.)
"So, the negotiations are starting between Congress and the White House to figure out what are the spending reforms, what are the pro-growth policies that we're going to implement and pair that with the debt limit increase so that we can put the country on a path to a more prosperous future," he said.
Dickerson joins "The Daily Signal Podcast" to further discuss the latest on the debt ceiling debate, whether the U.S. has ever defaulted on its debt before, and a bill recently introduced by 43 House Democrats to eliminate the debt limit entirely.
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