Cost of the Debt Ceiling Debate
Gary Engel of the Governmental Accountability Office (GAO) talked about the cost of Congress' inability in 2011 to reach an agreement on… read more
Gary Engel of the Governmental Accountability Office (GAO) talked about the cost of Congress' inability in 2011 to reach an agreement on raising the federal debt ceiling, and he responded to telephone calls and electronic communications. The GAO estimated that the near impasse cost the Treasury Department an estimated $1.3 billion.Mr. Engel discussed the Treasury’s actions, and the recommendations the GAO made to Congress about decisions tied to raising the debt ceiling.
This program was part of C-SPAN’s “Your Money” series. Each Monday morning the last hour of “Washington Journal” is devoted to a federal program, focusing on its mission, participants, and cost. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
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