Weekly Wrap: Debt and federal spending

A Wall Street sign in New York City's financial district.

How worried is Wall Street over debt and the deficit?

"Bond markets are very worried. They think that the closer we get to reaching anything like the debt ceiling, the more the market is going to get in a lot of trouble," says John Carney.

But Felix Salmon has a different take:

"This is political theater. I have seen no evidence in the bond markets that there is any actual, genuine worry about what's going to happen," says Salmon. "In the big picture, there is nothing to worry about."

Check out more of the Weekly Wrap with John and Felix by listening to their interview with host Kai Ryssdal.

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