Dancing on the Debt Ceiling?
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Hear what Foreign Policy columnist Adam Tooze has to say on this first episode of FP’s new weekly economics podcast, Ones and Tooze.
The United States Treasury Department warns the country could hit the debt limit as soon as October. Currently, the U.S. debt ceiling is $28.5 trillion, and if Congress is not able to raise that amount, the country could default on its payments.
These kinds of headlines and numbers get thrown around a lot, but what does it all really mean? Is it a good idea to lift the debt ceiling, particularly to pass large infrastructure bills? Or is it dangerous to increase the already large amount the United States owes?
Now you can listen to digestible answers to this and other business news questions on Foreign Policy’s newest podcast, Ones and Tooze, where popular FP economics columnist Adam Tooze will share his insights each week. The structure of the show sets it apart: Every episode, Tooze and FP deputy editor Cameron Abadi will explain two numbers you should know about to understand the world better.
This week, the first figure Tooze and Abadi dive into is that number we alluded to at the top: $28.5 trillion, the U.S. debt ceiling. Then, they unpack a shocking fact from Tooze’s new book, Shutdown: How Covid Shook the World’s Economy: During the pandemic, 3.3 billion people around the globe were furloughed, or prevented from going to work. If you want to find out more, check out the first episode of Ones and Tooze—and subscribe on your favorite podcast platform.
About Ones and Tooze: Foreign Policy economics columnist Adam Tooze, a history professor and a popular author, is encyclopedic about basically everything: from the COVID shutdown, to climate change, to pasta sauce. On FP's hit podcast, Tooze and FP deputy editor Cameron Abadi look at two data points each week that explain the world: one drawn from the week’s headlines and the other from just about anywhere else Tooze takes us. Check out Adam Tooze’s column here. See All Episodes
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More Ones and Tooze episodes:
Ask Adam Anything on Inflation
Adam and Cameron answer more of your listener questions.
Ask Adam Anything on China
Plus: We’re celebrating two years of Ones and Tooze.
The Economic Philosophy of George Soros
Adam and Cameron take a look at the legacy of the OSF’s founder.
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To learn more about creating a podcast with FP Studios, contact Andrew Sollinger at andrew.sollinger@foreignpolicy.com.