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A Debt Ceiling Breach Could Mean the Federal Government Decides Not to 'Pay Any Government Employees This Week'

Released Monday, 15th May 2023

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A Debt Ceiling Breach Could Mean the Federal Government Decides Not to 'Pay Any Government Employees This Week'

Monday, 15th May 2023

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The United States Treasury Department reached the $31.3 trillion debt ceiling in January, prompting “extraordinary measures'' to keep the U.S. from a default. Economic experts have predicted an unprecedented default as soon as June. Negotiations around the debt limit are slow going, increasing the likelihood of major disruptions to government operations and dire consequences to the world economy.

Dr. Patrick Gourley, PhD, is an associate professor of economics at the University of New Haven. He joined the podcast to discuss the debt ceiling landscape.

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