As we say here in Texas: "It's not just the heat, it's the humidity." Well when it comes to the debt default deadline, maybe you could say: "It's not just the debt limit, it's the policy."
Former Dallas Fed Chair Robert Kaplan does not think the U.S. will default in early June. But he understands the staredown between President Joe Biden and House Speaker Kevin McCarthy.
"We need better discipline around fiscal spending," Kaplan says. "Do we need a real conversation about how to reduce our spending and manage it better? Absolutely."
But he knows it's extremely hard to get Republicans and Democrats to come together right now.
"This is as difficult an environment as I've seen in my lifetime," Kaplan says of the political divide.
KRLD's John Liddle also talked with Kaplan about the importance of mission-based business growth.
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