8:00am

Sat July 2, 2011
Politics

How The Debt Debate Might Play Out

The White House and Congress continue to wrangle over a deal on the debt ceiling before Aug. 2. If they don't, the nation will default on its loans. Host Scott Simon talks to Mark Zandi, chief economist at Moody's Analytics, about the obstacles to a deal, what a short-term deal might look like, and the consequences of no deal being reached at all.