PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Monday, July 25, 2011

Lawmakers Play Chicken In Debt Ceiling Debate

Senate Majority Leader Harry Reid (D-Nev.) and House Majority Leader John Boehner (R-Ohio) on Capitol Hill, Washington. (AP)

Senate Majority Leader Harry Reid (D-Nev.) and House Majority Leader John Boehner (R-Ohio) on Capitol Hill, Washington, Saturday. (AP)

Who will blink first? Senate Majority Leader Harry Reid says he is crafting a deal that would cut spending by $2.7 trillion to make up for the $2.4 trillion increase in government borrowing.

Republicans say they doubt those cuts are achievable and House Speaker John Boehner favors a two-step process with $1.2 trillion in cuts and spending caps immediately and a $900 billion debt ceiling increase. That would be followed by the creation of a congressional committee that would find an additional $2 trillion in cuts through 2013.

If an agreement is not reached by Aug. 2, the U.S. won’t have cash to pay all its bills. Economic analysts say that could have a catastrophic impact on financial markets.

Guest:

  • Jay Newton-Small, Time magazine congressional correspondent

Please follow our community rules when engaging in comment discussion on this site.
Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

June 6 Comment

Introducing A New Here & Now Website

Coming June 9, 2016, Here & Now listeners and visitors will experience our stories and journalism online in a whole new way.

June 3 Comment

Teenagers Create Impromptu Exhibit At San Francisco Museum Of Modern Art

As the pair toured the museum, they wondered if they could do better. So 16-year-old Kevin Nguyen decided to get creative.

June 3 3 Comments

‘Silver Linings Playbook’ Author Explores Conformity, Mental Health In New Teen Novel

Matthew Quick published his fourth young adult book, "Every Exquisite Thing," this week.

June 2 13 Comments

Do Meal Kits Provide Great Taste Along With Convenience?

Resident chef Kathy Gunst tested a multitude of meal kits, and gives co-host Jeremy Hobson the inside scoop.