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Failure to raise the debt limit could be catastrophic for the US – and global – economy.
But a deal to lift the cap could also end up causing pain to many Americans. For example, the $4 trillion in spending cuts proposed by House Republicans would significantly disrupt US travel, Transportation Secretary Pete Buttigieg told Ian Bremmer on GZERO World. Republicans who voted to slash the budget should have to explain to the American people why they “might have to wait a couple more hours in a security line at an airport because of the cuts to TSA,” Buttigieg argues. "These are real impacts that are going to have a real effect on our everyday lives, not to mention on our economy."
Watch the interview in the upcoming episode of GZERO World, airing on US public television nationwide. Check local listings.
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- US debt limit: default unlikely, dysfunction probable ›
- Ian Explains: The debt ceiling ›
- US debt ceiling looms over a House divided ›
- Let the debt ceiling battles begin ›
- Hard Numbers: Southwest Airlines facing fines, Ukrainian casualties, Ethiopia-Tigray flights, Iranians facing execution ›
- US debt default would be "destabilizing," says World Bank's David Malpass - GZERO Media ›
- Will the US default on its debt? Ask GZERO World's guests - GZERO Media ›
- Podcast: Rebuilding American infrastructure with Pete Buttigieg - GZERO Media ›