What Happens if America Defaults on its Debt? (with Jason Furman)

America’s debt represents every deficit that's been run by every president, from George Washington to Joe Biden. Now, there’s a showdown between the White House and Congress over whether or not the House will vote to lift the debt ceiling as they've done dozens of times in the past. Andy gets specific with Jason Furman, who was an advisor to President Obama during the 2011 debt ceiling debate, about how we got here, whether our debt is too high, and what actually happens if America defaults on its debt. Keep up with Andy on Twitter and Post @ASlavitt. Follow Jason Furman on Twitter @jasonfurman. Joining Lemonada Premium is a great way to support our show and get bonus content. Subscribe today at bit.ly/lemonadapremium.    Support the show by checking out our sponsors! Click this link for a list of current sponsors and discount codes for this show and all Lemonada shows: https://lemonadamedia.com/sponsors/    Check out these resources from today’s episode:  Find vaccines, masks, testing, treatments, and other resources in your community: https://www.covid.gov/ Order Andy’s book, “Preventable: The Inside Story of How Leadership Failures, Politics, and Selfishness Doomed the U.S. Coronavirus Response”: https://us.macmillan.com/books/9781250770165  Stay up to date with us on Twitter, Facebook, and Instagram at @LemonadaMedia.  For additional resources, information, and a transcript of the episode, visit lemonadamedia.com/show/inthebubble. See omnystudio.com/listener for privacy information. Learn more about your ad choices. Visit megaphone.fm/adchoices