Full transcript of "Face the Nation with Margaret Brennan," Aug. 23, 2026

Americans are navigating an economy in uncharted territory, marked by a record $40 trillion national debt and the highest borrowing costs in two decades. Fears of persistent inflation and uncertainty surrounding the Iran war have sent financial markets reeling.

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That America is trying to break us so they can own us.

The U.S. Treasury Department's intervention midweek offered temporary relief, but market anxieties resurfaced by Friday. While higher yields benefit savers, they increase the cost of mortgages and other loans for consumers. This economic turbulence coincides with a new trade dispute with Canada, involving raised tariffs on various goods, from building materials to alcohol, prompting Canadian Prime Minister Mark Carney to accuse the U.S. of attempting to "break us so they can own us."

These pressing economic issues were central to the discussions on "Face the Nation with Margaret Brennan." Minneapolis Federal Reserve President Neel Kashkari joined the program to provide insights into the economic outlook. The broadcast also addressed the escalating cost of healthcare, featuring Dr. Mehmet Oz, administrator of Medicare and Medicaid.

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So, when we spoke back in may, I asked you about the debt level America has. You said you didn't see an immediate crisis brewing, but at some point this is going to become a problem.

Further discussions included former FDA Commissioner Dr. Scott Gottlieb on food recalls and outbreaks, and political figures Rep. Byron Donalds (R-Fla.) and Rep. Seth Moulton (D-Mass.) on their respective races and party matters. The program highlighted the growing concerns of everyday Americans struggling with the cost of living amid widespread economic uncertainty.

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Thanks for having me, Margaret. Great to be with you.