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AI Summary
- The U.S. government spends more than it takes in annually, requiring Congress to raise, suspend, or eliminate the debt ceiling to continue paying bills
- Shai Akabas developed a system to calculate the 'X-Date'—the terrifying deadline when the U.S. cannot pay all debts without Congressional action
- The episode features Akabas and Jay Powell's work to create early-warning systems preventing economic catastrophe from hitting the debt wall