Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney were on Capitol Hill this week sounding the alarm on the debt ceiling. That’s the limit on how much debt the government can rack up. Mnuchin and Mulvaney said Congress might have to lift or suspend the debt limit sooner than planned. Mulvaney said that’s because tax revenues are coming in slower than he expected. Why is there a revenue shortfall?
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.