Debt Ceiling Dinner Theater

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Slate

News, Daily News, News Commentary, Politics

4.6 • 2.3K Ratings

🗓️ 11 May 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Janet Yellen announced that June 1 is the “drop dead date” by which the American government has to either raise the debt ceiling or run out of money to pay its obligations. Can President Joe Biden and House Speaker Kevin McCarthy come to an agreement that will mollify their bases and keep the government working? And why does it feel like we have to go through this ritual every couple of years? Guest: Jordan Weissmann, Washington editor at Semafor. If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get benefits like zero ads on any Slate podcast, bonus episodes of shows like Slow Burn and Dear Prudence—and you’ll be supporting the work we do here on What Next. Sign up now at slate.com/whatnextplus to help support our work. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:30.0	When Joe Biden and congressional leadership scheduled a big meeting this week,
0:40.1	to talk about the debt ceiling, there's only one person I wanted to talk with about it.
0:45.3	Jordan Weissman, over at Semaphore.
0:47.5	So let's talk about the debt ceiling fine.
0:53.8	Let's do it.
0:54.8	Okay.
0:56.2	The last time we talked to Jordan, it was January.
1:00.0	And now, just like that, Republicans are refusing to raise the debt limit
1:04.2	without an agreement to slash spending.
1:06.7	The only thing that's changed here is that the country's
1:09.2	inched closer to the brink of insolvency.
1:12.7	Jordan says you can kind of think of these new negotiations as a kind to what
1:15.6	happens around a closing time at your local bar.
	...

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