SALT LAKE CITY (ABC4) – Senate Republicans and Democrats are striking a temporary deal to raise the debt ceiling; the deal should cover debt spending until December in hopes of preventing the American economy from crashing.
If Congress fails to raise the debt ceiling, the nation will default on its loans within two weeks. This has never happened before but if it does, Treasury Secretary, Janet Yellen, says the potential consequences could be devastating.
Joining Good Morning Utah to talk about how the debt ceiling impacts our state, Utah’s Treasurer Marlo Oaks.
To learn more about the debt ceiling, Treasurer Oaks recommended the Bipartisan Policy Center.