What happens if the U.S. government can’t pay its bills?

This podcast episode delves into the complexities surrounding the impending US debt ceiling deadline, discussing the challenges and potential consequences associated with raising or suspending the debt in a timely manner. The speakers analyze the intricate dynamics of tax receipts and expenditures, highlighting the risks of running out of cash and the implications for financial markets and the economy. The discussion also explores the political implications of the debt limit debate, offering insights into the upcoming negotiations between congressional leaders and President Biden.