Kevin McCarthy’s Debt Ceiling Dilemma

The Daily

The New York Times

Daily News, News

4.4 • 102.8K Ratings

🗓️ 1 May 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last week, Speaker Kevin McCarthy persuaded Republicans to narrowly pass a bill to raise the U.S. debt ceiling, setting up high-stakes negotiations with the Biden administration. Catie Edmondson, who covers Congress for The New York Times, explains the risks this might pose to his job and the country’s economy. Catie Edmondson, a congressional correspondent for The New York Times.

Transcript

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0:00.0	From New York Times, I'm Michael Bavaro.
0:04.0	This is The Daily.
0:07.0	Today, for Republican House Speaker Kevin McCarthy, the looming crisis over the U.S.
0:18.5	debt ceiling may soon require him to make a painful choice, prevent a financial catastrophe,
0:26.4	or keep his job.
0:31.4	Congressional reporter Katie Edmondson explains.
0:41.4	It's Monday, May 1st.
0:51.4	Katie, the last time we had you on the show, it was back in January and Kevin McCarthy
0:57.0	and the new, very narrow House Republican majority had just finished a grueling fight over
1:03.9	the speakership.
1:04.9	And that fight pitted McCarthy against the most hard-line conservatives in the House
1:10.5	who wanted to extract concessions from him before they would vote for him as speaker.
1:15.2	And as we know, McCarthy ultimately won that fight by making those concessions the most
1:20.2	notable of them, being that any one member of the House could call a vote to basically
1:26.2	fire McCarthy as speaker at any time, which effectively put him at the mercy of the same
1:32.2	wing of his party who he had the hardest time winning over.
1:37.3	And the question coming out of all of that was whether speaker McCarthy could ever truly
1:43.5	rule this unruly group of Republicans or whether he was basically doomed as speaker
1:50.2	from the start.
1:51.8	And over the past few days, it feels like we've started to get an answer.
1:57.6	We did.
1:58.6	We saw an early test balloon floated essentially and it was on a really high stakes issue.
	...

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