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Cato Podcast

The Coming Debt Fight

Cato Podcast

Cato Institute

Immigration, News, News Commentary, Peace, 424708, Markets, Government, Libertarian, Policy, Politics, Cato, Defense

4.5979 Ratings

🗓️ 1 September 2017

⏱️ 7 minutes

🧾️ Download transcript

Summary

Choosing the size of the national debt is a fight worth having. So why doesn't anyone want to have it? Michael Tanner comments.

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Transcript

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0:00.0

This is the Kator Daily Podcast for Friday, September 1st, 2017.

0:09.3

I'm Caleb Brown.

0:10.4

A fight that's about to break out is over the US total debt limit despite claims

0:15.4

that the debt limit will be increased in a so-called clean way. There's plenty of

0:20.2

reason to believe the fight will be somewhat more protracted.

0:23.2

Cato Senior Fellow Michael Tanner comments.

0:27.6

For a Republican presidential candidate, it was always my thought that the debt ceiling was the fight the fight the good fight the fight worth having the idea that to place

0:38.7

some sort of global control over the amount of debt that the United States can hold on to and then the other

0:46.4

arguments all fall underneath that kind of argument.

0:50.5

What do you think of that?

0:51.5

Well for Republican candidate that was sort of always the case, at least until Donald Trump.

0:57.0

Right, but it never, it never seemed to be a top tier issue.

1:00.6

I mean, they talk about debt in a litany of other things but it seems like it was never the front page item

1:06.8

Not really since Ronald Reagan to be honest has debt really taken center stage

1:12.3

But Republican presidential candidates always talked about it really taken center stage.

1:12.7

But Republican presidential candidates always talked about it.

1:15.1

Now when they got in office, of course, Republicans were very different.

1:20.1

Somehow it always fell aside. Treasury secretaries inevitably want to see a clean lifting of the dead ceiling.

1:27.4

They don't want to deal with the various complexities that will come up if the

1:31.4

debt ceiling is breached.

1:33.2

So what's the next fight look like?

1:35.4

Well, last time Congress didn't actually raise the debt ceiling.

...

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