What happens to government debt, the budget deficit, and the overall economy if interest rates stay elevated? For a new report, the Congressional Budget Office crunched the numbers. By 2056, public debt would grow to an eye-popping 222% of GDP. Plus: Trump administration cuts decimated soil conservation programs, a new report highlights the impact of private equity investments on climate risk, and an uneventful Trump-Xi summit ends with a promise of more talks to come. Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter. Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future. Read the stories in today’s episode: TTYL? Trump-Xi talks end without much to show What happens to the deficit and the national debt if interest rates stay high? U.S. farmers lost conservation experts in Trump’s federal cuts. Now they’re hurting for help Private equity gets a grade on climate risks

High interest rates could balloon the national debt

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[SPEAKER_08] We got some pandas. They got a bald eagle statue. We'll look at what else came out of this week's U.S.-China summit. From American Public Media, this is Marketplace. In Denver, I'm Amy Scott, in for Kai Rizdahl. It's Friday, September 25th. Good to have you with us.

[SPEAKER_08] Chinese President Xi Jinping wrapped up his three-day visit to Washington today, his first state visit in 11 years. But aside from plenty of pageantry and the exchange of animals, what was actually accomplished between the world's largest economic powers? We're going to get to it in our weekly wrap with Anna Swanson at The New York Times and Greg Ipp at The Wall Street Journal. Hi, you two. Hello.

[SPEAKER_08] Anna, you're our resident trade reporter. So was there any actual progress on that front in this state visit?

[SPEAKER_07] So there's still not a lot of specificity, and it does look pretty limited. The two sides did agree to extend their trade truce for two months, kind of a minimal time period. The U.S. got a couple more pandas, which, you know, personally, always very exciting. Yes, I agree. Right. President Trump said the farmers would be happy, but we don't have a lot of evidence to that effect yet.

[SPEAKER_07] So essentially, there was a lot of pomp and circumstance, a state dinner that featured some tech titans, but not a lot of substance to the visit. And I think really the takeaway is, you know, it's hard to do a business and trade summit with a country when you're skeptical of doing business and trade with them. And that's really where the U.S. is with China now.

High interest rates could balloon the national debt

Read the full transcript

The candid version is on a podcast,
not the earnings call.

High interest rates could balloon the national debt

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.