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

On this Face the Nation with Margaret Brennan broadcast, the panelists discussed new warning signs for the U.S. economy and mounting costs for American families. Washington is preparing for cars to race down its streets, while many Americans are focused on the struggle to keep up with rising living costs and a growing sense of economic uncertainty. A new trade war with neighboring Canada has also started, with the U.S. raising tariffs on various goods, including building materials, hockey sticks, and Canadian alcohol.

The conversation began with Mark Carney, the Canadian Prime Minister, expressing his concerns that America might try to break Canada so they can own them. Margaret Brennan then asked Neel Kashkari, the Minneapolis Fed president and CEO, about the record-high debt level in the U.S., which hit $40 trillion last week. Kashkari explained that while Treasury yields are high, they are not high relative to long American history, and there is no sign of Treasury market dysfunction or financial market breakdowns.

Brennan then turned to the topic of soaring health care costs, with Dr. Mehmet Oz, the administrator of Medicare and Medicaid, discussing the skyrocketing cost of health care. Former FDA Commissioner Dr. Scott Gottlieb joined to address the growing list of food recalls and outbreaks, while Florida Congressman Byron Donalds spoke about his recent win in the GOP gubernatorial primary. Lastly, Democratic Congressman Seth Moulton of Massachusetts discussed his push to oust a senator from his own party.