The U.S. has officially hit its debt limit. Now, the Treasury Department is trying to buy Congress and the White House more time to avoid a government default. Treasury Secretary Janet Yellen says she’s taking extraordinary measures to avoid a potential economic crisis.

Phil Powell, the Academic Director of the Indiana Business Center, and an associate professor of business economics and public policy at the IU Kelley School of Business, joined Scott to discuss what the issue means for Hoosiers.