McCarthy: We Could Get a Debt Deal at Any Time

The transcript discusses ongoing negotiations in Washington, focusing on spending cuts for fiscal year 2024. Republicans aim to reduce spending, while Democrats are hesitant. Contingency plans are being considered by the Treasury in case of a default, with concerns about the U.S. credit rating. The potential impact of a credit downgrade is also discussed, referencing the 2011 precedent.

What is the main issue causing disagreement between Republicans and Democrats in the fiscal negotiations for 2024?

• Social Security benefits

• Defense spending

• Spending cuts

• Tax increases

What is the Treasury Department considering in case the U.S. surpasses the X date?

• Raising the debt ceiling

• Implementing contingency plans

• Cutting defense spending

• Increasing taxes

What could happen to the U.S. credit rating if the fiscal drama continues?

• It could be upgraded

• It could improve

• It could remain the same

• It could be downgraded

What historical event is referenced as a precedent for the current fiscal situation?

• The 2008 financial crisis

• The 2011 debt ceiling crisis

• The 2020 pandemic response

• The 1995 government shutdown

How did the SP Global ratings agency respond in 2011 before reaching the X date?

• They took no action

• They issued a warning

• They downgraded the U.S. credit rating

• They upgraded the U.S. credit rating