Shumita Basu

Changing the U.S. credit rating is unlikely to seriously damage the economy. Only 11 countries now hold the top rating. But it's an important signifier. And as Rubin notes, incurring more national debt may lead to more expensive borrowing over time. And it may eventually give future politicians some unpalatable choices. One notable fact from Moody's report, interest payments in the U.S.

are set to consume 30 percent of the federal government's revenue by 2035, compared with 9 percent in 2021. Still, Republicans are moving forward with this bill. They advanced it out of a key House committee over the weekend, securing the votes of several who had blocked the measure just days before, and they hope to put the bill up for a vote by Thursday.

are set to consume 30 percent of the federal government's revenue by 2035, compared with 9 percent in 2021. Still, Republicans are moving forward with this bill. They advanced it out of a key House committee over the weekend, securing the votes of several who had blocked the measure just days before, and they hope to put the bill up for a vote by Thursday.

are set to consume 30 percent of the federal government's revenue by 2035, compared with 9 percent in 2021. Still, Republicans are moving forward with this bill. They advanced it out of a key House committee over the weekend, securing the votes of several who had blocked the measure just days before, and they hope to put the bill up for a vote by Thursday.

Rubin says Republicans believe that core elements of this legislation, like expanding and extending tax cuts, will help spur economic growth and offset what's added to the deficit.

Rubin says Republicans believe that core elements of this legislation, like expanding and extending tax cuts, will help spur economic growth and offset what's added to the deficit.

Rubin says Republicans believe that core elements of this legislation, like expanding and extending tax cuts, will help spur economic growth and offset what's added to the deficit.

Economists largely agree that the legislation could boost economic growth, but many say not anywhere close to the level Republicans are projecting. One expert at the Libertarian Cato Institute told Rubin, Republicans like to use this argument of economic growth as a, quote, magic wand to wave away problems in legislation.

Economists largely agree that the legislation could boost economic growth, but many say not anywhere close to the level Republicans are projecting. One expert at the Libertarian Cato Institute told Rubin, Republicans like to use this argument of economic growth as a, quote, magic wand to wave away problems in legislation.

Economists largely agree that the legislation could boost economic growth, but many say not anywhere close to the level Republicans are projecting. One expert at the Libertarian Cato Institute told Rubin, Republicans like to use this argument of economic growth as a, quote, magic wand to wave away problems in legislation.

But while there are some self-styled deficit hawks in the congressional ranks, Rubin says they will struggle to balance economic realities with political ones.

But while there are some self-styled deficit hawks in the congressional ranks, Rubin says they will struggle to balance economic realities with political ones.

But while there are some self-styled deficit hawks in the congressional ranks, Rubin says they will struggle to balance economic realities with political ones.

Today, President Trump is expected to meet with House Republicans as they try to pull their votes together as soon as they can. Now to travel, where a string of high profile aviation disasters have left people wondering just how safe our air traffic control system really is. Just yesterday, we learned about another close call.

Today, President Trump is expected to meet with House Republicans as they try to pull their votes together as soon as they can. Now to travel, where a string of high profile aviation disasters have left people wondering just how safe our air traffic control system really is. Just yesterday, we learned about another close call.

Today, President Trump is expected to meet with House Republicans as they try to pull their votes together as soon as they can. Now to travel, where a string of high profile aviation disasters have left people wondering just how safe our air traffic control system really is. Just yesterday, we learned about another close call.

Earlier this month, a passenger jet at LaGuardia Airport in New York was forced to abort takeoff to avoid a potential collision as another United Airlines plane was on the runway at the same time. Air traffic controllers realized just in time and frantically pulled their go-ahead to take off.

Earlier this month, a passenger jet at LaGuardia Airport in New York was forced to abort takeoff to avoid a potential collision as another United Airlines plane was on the runway at the same time. Air traffic controllers realized just in time and frantically pulled their go-ahead to take off.

Earlier this month, a passenger jet at LaGuardia Airport in New York was forced to abort takeoff to avoid a potential collision as another United Airlines plane was on the runway at the same time. Air traffic controllers realized just in time and frantically pulled their go-ahead to take off.

Then there was the deadly collision between an Army helicopter and an American Airlines flight near Washington, D.C. in January that killed 67 people. In that case, just one air traffic controller was managing both helicopter and commercial traffic, which is a job normally done by two people.