Ever since the 2008 financial crisis and recession, central bankers and most economists have agreed that it's good to keep interest rates as low as possible. Making it easy to borrow money very cheaply helps the economy recover from recessions and the COVID pandemic.

But what if very cheap money has unintended consequences such as asset bubbles and bank failures, and benefits the haves much more than the have-nots of society?

Our guest is financial analyst, journalist, and historian Edward Chancellor, author of the new book, "The Price of Time, The Real Story of Interest". Edward specializes in financial crises— bubbles, crashes and panics. He uses examples from history to challenge conventional wisdom about near-zero interest rates, and walks though his arguments in a relatable way.

The last time the U.S. faced a major showdown over the debt-ceiling was a decade ago. Much like today, House Republicans insisted on spending cuts before they would vote to raise the amount of money the government could borrow. Then-President Obama and now President Biden said they would not negotiate.

Who will blink first?

Nearly all economists and financial experts say that a debt default would have extremely serious consequences for the everyday economy and America's place in the world.

We look at the massive U.S. debt mountain, who has leverage in the current game of chicken, and discuss why both political parties are so reluctant to get serious about the debt. Our guest, fixed income specialist and economist, Chris Low of FHN Financial comes up with potential fixes.