4 • 494 Ratings
🗓️ 7 July 2025
⏱️ 50 minutes
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0:00.0 | Hi, I'm CNBC producer Cameron Costa. |
0:07.5 | Ahead is a podcast special you don't want to miss, called America's Deficit Reckoning. |
0:14.1 | What happens if the U.S. doesn't rain in the budget deficit? |
0:18.6 | CNBC's Leslie Picker has interviewed top economists, investors, and former government officials |
0:24.4 | to unpack the risks of America's unsustainable fiscal path. |
0:29.4 | This isn't just about how to fix it, but what could happen if we don't? |
0:35.2 | Take a listen. |
0:39.0 | There's no shortage of voices sounding the alarm about the national debt. |
0:43.6 | Our fiscal situation is a 350-pound two-pack-a-day smoker on the ICU table. |
0:51.1 | The U.S. federal budget is on an unsustainable path. We're going to be broke really quickly |
0:57.8 | unless we get serious about dealing with our spending issues. I do believe that fiscal policy |
1:05.5 | needs to be put on a sustainable course. The U.S.'s borrowing levels are currently the same size as the entire |
1:12.5 | economy and are expected to skyrocket from here. That's because America spends way more than it |
1:17.9 | brings in and then borrows to cover that deficit. And there's plenty of debate on how to close |
1:23.0 | that gap, raise taxes, cuts spending, a combination of both. No doubt. Any solution demands hard choices. |
1:30.6 | But what are the actual consequences if the deficit gets out of control? |
1:35.7 | I often liken this to the invisible dog fence where you really don't want to hit it, |
1:40.5 | but you won't know until you do. And it seems like the U.S. is almost intent on finding out |
1:45.0 | where that tipping point is. That's Maya McGinnis of the Committee for a responsible federal |
1:49.1 | budget. Business leaders, politicians, economists, investors, almost all share a common fear that |
1:55.0 | the U.S. is playing with fire when it comes to its deficit, but less clear what the actual ramifications look like if we reach |
2:03.8 | that tipping point. This is CNBC's goal here, to explore not how to fix the deficit, but rather |
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