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Hello and welcome to the Americano podcast, a series of discussions about American politics and now the Joe Biden presidency.

We will be looking at how a 78-year-old president will change America

and we'll be asking if normalcy, which is what he promised to bring,

has returned to American politics.

The answer, of course, is no.

I'm joined today by Kate Andrews, who is the

spectator's economics editor and a regular on the Americano podcast. And we're going to be asking if

America, the richest country in the world, is running out of money. Kate is, well, today we had the Democrats and the Republicans have sort of just about

patched together a late agreement to extend the debt ceiling, which is a sort of thing that

pops up on a fairly regular basis in American life. And it seems that it's always this

sort of game of brinkmanship or chicken with the debt ceiling that happens between the

Republicans and Democrats and the Republicans or the opposition party refused to agree to raising

the debt ceiling. The Republicans in this case refuse to do it. And nobody wants to be responsible

for America actually

defaulting on its debt. So finally, one side caves and they agree that America should borrow more

...