This podcast episode explores the intricacies of the 2011 debt ceiling crisis in the U.S., focusing on the roles of economic expert Shy Akavas and Federal Reserve Chair Jay Powell. Akavas's expertise on the debt limit and the economic forecast from the Congressional Budget Office are highlighted. Powell's involvement during the Tea Party era and his efforts in addressing the debt crisis as an intern at the Treasury Department are discussed. The section also examines the challenges in determining the X date, the day the government will run out of money, and the debates surrounding gimmicks and extraordinary measures to avoid a debt crisis.
