The US Treasury has once again started to use “extraordinary measures” to honor its debt service obligations and avoid breaching the debt ceiling. With these measures expected to run out sometime this summer, any efforts to increase or suspend the debt ceiling will run concurrently with Republican priorities to renew tax cuts and cut government spending. President Trump has voiced support in eliminating the debt ceiling altogether, creating the possibility of a bipartisan agreement that would remove this frequent source of anxiety for financial markets. In this episode, we talk with Nathan Dean, Senior Policy Analyst with Bloomberg Intelligence, about the limits the debt ceiling imposes on fiscal policy, its impact on financial markets, and how policymakers are approaching it in the year ahead.