What's behind America's debt ceiling standoff?

Yet again, the United States has hit its debt ceiling, triggering a political battle in Congress. Republicans say spending must be cut, to lift the borrowing cap. But President Biden insists there should be no pre-conditions. So, what happens next? Join host Laura Kyle. Guests: William Lee - Chief Economist at the Milken Institute. Laura Blessing, Senior Fellow, Government Affairs Institute at Georgetown University. June Park, Shmidt Futures Asia Fellow at the International Strategy Forum.