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The Fox News Rundown

Could Congress Let America Default On Its Debt?

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.41.7K Ratings

🗓️ 29 September 2021

⏱️ 28 minutes

🧾️ Download transcript

Summary

There is uncertainty in Washington this week as Republicans voted down a measure to raise the debt ceiling amid the backdrop of a potential government shutdown due to disagreement in Congress. Treasury Secretary Janet Yellen remarked that failing to raise the debt ceiling could lead to the U.S. defaulting on its debt and the outcome could be disastrous for the American economy. In addition, inflation continues to threaten the economy, as Chairman of the Federal Reserve Jerome Powell says that supply shortages are leading to price increases. Host of "Making Money" on the FOX Business Network Charles Payne joins the FOX News Rundown to discuss how President Biden's $3.5 trillion dollar spending package could lead to further inflation. Later, Senior Advisor on Innovation during the Obama Administration and author of The Raging 2020s Alec Ross joins to explain how the spending package could have less of an impact on inflation than the infrastructure bill. The crossing at the U.S. Mexico border is showing no signs of slowing down as a new waves of Haitian migrants make their way to the southern border. The U.S. isn't the only country getting overwhelmed with a crisis; Mexico is facing one also as the city of Tapachula swells as thousands of migrants make their way to the U.S. FOX News Correspondent Griff Jenkins joins us from Tapachula to tell us what he's seeing at the Mexican entry-point, why the migrants want to come to the U.S. and how Mexico has been dealing with the border crossings. Plus, commentary by Guy Benson, host of the Guy Benson Show. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi all how we doing afternoon afternoon let's get this meeting meeting meeting

0:06.0

started

0:07.0

when everyone's home erepte work mode

0:12.0

when everyone's home ee work mode prioritizes your broadband for working from home, with faster speeds in more places than anyone else.

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So, yeah, yeah, I've got you loud and clear, clear is about.

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This is broadband made for working from home.

0:24.0

Search EE broadband, powered by BT.

0:26.7

Work mode with EE smart hub plus to verify the EE.

0:28.9

C EE. C EE. C EE.

0:29.5

K.

0:30.0

I'm Shannon Brem. I'm Tom Shalu. I'm Maria Bartiromo, and this is the Fox News rundown

0:38.0

Wednesday, September 29, 2021.

0:42.0

I'm Dave Anthony. There's growing concern that disputes in Congress over spending

0:47.9

and raising the debt limit could hurt an already fragile recovery.

0:51.7

It's sort of crazy to think that Congress would for the first time allow us to default on our debt

0:58.0

and I don't think we will, but if we did, it would tank the economy in a hurry. And Lisa Brady, as thousands more migrants head toward the U.S.

1:07.0

Mexico is now using a soccer stadium to process migrants at its southern border.

1:12.0

What the Mexican officials here are trying to figure out is A, how to put a lid on it and B, just how many are coming.

1:20.0

And I'm Guy Benson.

1:22.0

I've got the final word on the Fox News rundown.

1:25.0

There's a lot of uncertainty in Washington this week, including a possible government shutdown and disputes over raising the debt limit.

1:39.0

Treasury Secretary Janet Yellen says if we don't increase it by October 18th, the U.S. could default.

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