Negotiations over raising the debt limit continue between the White House and congressional leadership. Some economists warn that failing to raise the statutory limit could cause the nation to default on its debt, creating chaos in domestic and international markets.
Meanwhile on Capitol Hill, lawmakers are struggling to find a compromise on the overall budget. Brookings Senior Fellow Alice Rivlin, founding director of the Congressional Budget Office and a member of President Obama’s National Commission on Fiscal Responsibility and Reform, warns that the national debt and record budget deficits threaten the country’s long-term economic health.
On June 8, Rivlin took questions on the nation’s debt in a live web chat moderated by POLITICO.