#MrMarket: Change the deal to no cuts. Veronique de Rugy, Mercatus Center.p
The John Batchelor Show
John Batchelor
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🗓️ 9 June 2023
⏱️ 9 minutes
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#MrMarket: Change the deal to no cuts. Veronique de Rugy, Mercatus Center.
https://www.creators.com/read/veronique-de-rugy/06/23/what-to-make-of-new-projections-of-big-government-savings
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| 0:28.8 | This is CBS. I'm John bachelor. The debt deal done. The president's |
| 0:40.5 | over office address done the debt deal avoiding default done two years from now. |
| 0:46.6 | We begin again. However, I welcome Veronique to Reggie of the Mercator Center |
| 0:51.4 | because what I learn reading the news within hours within days of the debt deal done is that it is never done. |
| 0:59.4 | That all sides that is to say more than two have opinions about what they can do with the debt deal. |
| 1:06.6 | Veronique, a very good evening to you. I read most recently this report about the debt deal in the Republican house. |
| 1:15.8 | The part that was passed beforehand that Mr McCarthy took to the president in his negotiation house leadership has canceled votes for the rest of the week as several hardline GOP lawmakers deployed stall tactics to protest the debt ceiling deal. |
| 1:33.8 | Speaker Kevin McCarthy, brokered with Democrats. The members reportedly want to renegotiate the deal struck win January to give McCarthy the speaker ship gavel. |
| 1:43.8 | Though McCarthy said they hadn't offered specific demands. So not only do they want to change speakers. They're using the debt deal to slow everything down to stop everything to protest McCarthy. |
| 1:57.8 | In other words, the Republicans who signed on this deal don't like the deal. Who does like it? All right. Who else is trying to change it? Veronique, good evening to you. |
| 2:07.8 | Good evening. Yeah, no, they don't like the deal. I mean, most people don't like the deal, right? Because it's born out of a compromise. |
| 2:14.8 | So it means most people had to give up something they wanted for things that they didn't want. |
| 2:20.8 | But the freedom caucus people really do not like the deal that was passed. |
| 2:27.8 | And they're getting more and more and more in order because the little that was in the deal is being violated. |
| 2:35.8 | Or at least there is strong hints that it's not going to actually go through. |
| 2:41.8 | So for instance, we know there are caps on defense and non-defense spending in the deal in the deal. |
| 2:48.8 | And President Biden has already said that if he needed, he would make sure to suspend the deal, the caps on non-defense spending. |
| 2:56.8 | And I think the Senate Republicans have also said that with the war in Ukraine still raging, the caps on defense spending may have to go. |
| 3:08.8 | And for this, of course they have a built-in mechanism, which is called the emergency spending labeling, where if they label anything emergency, it doesn't, it's spending that doesn't count against the caps. |
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