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May 3, 2023, 7:47 a.m.

Treasury nears debt limit + Newswrap 5/3/23 + Student video

Summary

The White House renewed its call for Congress to lift the debt ceiling without conditions as the nation could soon default on its debt. Since January, the government has deployed 'extraordinary measures' to pay its bills, but that could run out soon, according to the Treasury Secretary. White House Correspondent Laura Barrón-López and Congressional Correspondent Lisa Desjardins have the latest. For a transcript of this story, click here . News wrap alternative : Check out recent segments from the NewsHour, and choose the story you’re most interested in watching! You can make a Google doc copy of discussion questions that work for any of the stories here.

Five Facts

  • Who is calling for Congress to lift the debt ceiling "without condition"?
  • What is the "debt ceiling"?
  • When will the federal government no longer be able to pay its bills if the debt ceiling is not lifted?
  • Why has Congress refused to lift the debt ceiling?
  • How would failing to pay already promised payments affect the U.S. economy going forward?

Focus Questions

Since Congress has already established a budget to spend money, do you think a debt ceiling that makes it impossible to spend that money should exist? How should Congress and the President negotiate the budget in a way that doesn't risk standoffs and damage to the overall economy? News analysis : Why do you think the producers chose to interview reporters for this story and not the elected officials negotiating the debt ceiling vote? Alternative : See, Think, Wonder : What did you notice? What did the story make you think? What story would you want to find out more about? Where would you go to learn more?

For More

What students can do : Discuss — what is the debt ceiling, who is in control of government spending at the federal level and what are the consequences of failing to pay debts? Before discussing, read this article for more details.

STUDENT VIDEO OF THE DAY (April 27, 2023)


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