phillip swagel is the congressional budget office director kind enough to join us now.g us. >> neil thank you so much. neil: so how do you see it? i know that's a worse case scenario. as things stand now, it is possible that as soon as july we could be facing that. what did you base that on? >> no that's right and that's what we put out a report on wednesday with a three-month window so july, august, september, and that's based on our detailed analyst of the revenue coming into the government, and the spending going out. the monthly and daily payments that the treasury makes for the u.s. government, and the key uncertainty is revenue. that we know that well people who have refunds tend to e-file, people with payments tend to paper file, so in the middle and late april into may, we'll start to get a sense of what kind of revenue is coming in, and whether that matches our projections. if the revenue is weaker than we projected it could be on the early side or even earlier than july. neil: all right, now, you're probably one of the smartest cbo directors from educated at p

maria: that was the director of the congressional budge office, phillip swagel, on the fiscal cliff overress faces a summer deadline over raising the debt ceiling. the spending by president biden and the democrats have sent the national debt to $31.5 trillion with interest due on that debt at over $500 billion. the cbo says if the u.s. stays on the current spending track, the national debt will balloon to $52 trillion by 20 the 3 -- 2033. we are back with congressmen arrington and gooden. mr. chairman, i want to get your take on this cbo report. the u.s. is on target to add a staggering $19 trillion to the national debt in the next 10 years. the cbo warns that one way or another through tax hikes or spending cut, the country's fiscal course needs to be corrected. how will you correct it? >> well, you've got to rein in the spending, that's what's caused this unprecedented inflationary firestorm. it's also why the interest rates are going up, and we are going to the experience, most likely, a sustainedded recession. you've got to rein in that, and you've got to grow the economy, maria. tha