© 2024 WYPR
WYPR 88.1 FM Baltimore WYPF 88.1 FM Frederick WYPO 106.9 FM Ocean City
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Showdown as federal debt looms over Congress

Speaker of the House Kevin McCarthy of Calif., left, and Senate Majority Leader Sen. Chuck Schumer of N.Y., right, listen as President Joe Biden hosts a meeting on the debt limit in the Oval Office of the White House, Tuesday, May 9, 2023, in Washington. Senate Minority Leader Mitch McConnell of Kentucky and House Minority Leader Hakeem Jeffries of New York also took part in the meeting but are off-camera in this photo. (Evan Vucci/AP)
Evan Vucci/AP
Speaker of the House Kevin McCarthy of Calif., left, and Senate Majority Leader Sen. Chuck Schumer of N.Y., right, listen as President Joe Biden hosts a meeting on the debt limit in the Oval Office of the White House, Tuesday, May 9, 2023, in Washington. Senate Minority Leader Mitch McConnell of Kentucky and House Minority Leader Hakeem Jeffries of New York also took part in the meeting but are off-camera in this photo. (Evan Vucci/AP)

Today on Midday, a heated impasse over the debt ceiling.

Treasury Secretary Janet Yellen warned Congress that the Treasury will soon run out of the “extraordinary measures” currently being employed to maintain the full faith and credit of the federal government.

After a meeting on Tuesday with Congressional leaders, neither President Joe Biden nor Speaker of the House Kevin McCarthy expressed great optimism that either side had budged in the standoff over whether budget cuts can be tied to a deal on raising the debt ceiling.

Our guests are Kathleen Day, a lecturer at the Johns Hopkins Carey School of Business, and Luke Broadwater, congressional reporter for The New York Times.

The guests join Tom in Studio A.

Johns Hopkins Carey Business School lecturer Kathleen Day (left) and congressional reporter for The New York Times Luke Broadwater (right).
Johns Hopkins Carey Business School lecturer Kathleen Day (left) and congressional reporter for The New York Times Luke Broadwater (right).

Stay Connected
Host, Midday (M-F 12:00-1:00)
Teria is a Supervising Producer on Midday.
Rob is a contributing producer for Midday.
Sam Bermas-Dawes is a producer for Midday.