U.S. hits its debt ceiling, triggering risk of default

The Lead with Jake Tapper

CNN

News

3.5 • 1.7K Ratings

🗓️ 20 January 2023

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The fight over the debt ceiling could cause a global economic crisis including higher mortgage and credit card payments, 401(k) declines, delayed payments for veterans, delayed Social Security, and more. Plus, actor Alec Baldwin is going to be charged with involuntary manslaughter in the tragic deadly shooting of cinematographer Halyna Hutchins. Also, the U.S. Secretary of Defense Lloyd Austin is in Germany trying to get top officials in Germany to send talks to Ukraine. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	The Treasury Secretary sounded the alarm.
0:05.1	The lead starts right now.
0:07.9	Extraordinary measures are now underway as the United States of America hits its limit
0:13.4	on debt.
0:14.9	How this sets up a showdown for Congress and the White House's Republicans vowed to cut
0:20.0	future spending before agreeing to pay the bills already due.
0:23.9	Stunning news actor Alec Baldwin is going to be charged with involuntary manslaughter in
0:29.7	the tragic deadly shooting of cinematographer Helena Hutchins on the Rust movie set.
0:35.0	The actor is growing up for a legal fight while Hutchins' family is weighing in.
0:40.0	And new reaction to the shocking announcement by New Zealand's Prime Minister.
0:45.1	Why is popular, celebrated leader Jacinda Ardern really resigning?
0:54.9	Welcome to the lead and I'm Jake Tapper, and we start today with our money lead growing
0:59.8	fears of a looming economic crisis that could affect every single American today the United
1:05.4	States officially hit our debt ceiling.
1:08.2	That's the limit set by the U.S. Congress on how much the federal government can borrow
1:12.7	to pay its bills.
1:13.7	We're not talking about new spending here.
1:15.4	This is money the United States government currently owes.
1:17.9	It is on Republicans and Democrats on Capitol Hill to agree to raise that limit.
1:23.2	And if they do not, the United States government would theoretically default on its debt.
1:29.5	It's hard to know exactly how bad this could get because the United States has never
1:32.8	intentionally defaulted before.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNN, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNN and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.