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The Intelligence from The Economist

Raise the roof? America’s debt-ceiling debacle

The Intelligence from The Economist

The Economist

News, Global News, Daily News

4.53.7K Ratings

🗓️ 22 May 2023

⏱️ 27 minutes

🧾️ Download transcript

Summary

Today, the president will meet with the Republican leader in the house of representatives to try and prevent the country from defaulting. But what if they cannot come to an agreement? Britain is reviewing its surrogacy laws which could ease the process for gay parents. And come with us on a foraging adventure.


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Transcript

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0:00.0

Hello and welcome to the Intelligence from the Economist. I am your host, Orre Ogambi.

0:09.8

Every weekday we provide a fresh perspective on the events shaping your world.

0:18.3

Same sex marriage has been legalised in many countries over the past decade, but as family

0:23.7

structures evolve so must the laws. Now Britain is re-examining its rules on surrogacy.

0:33.3

And our correspondent takes us on a foraging adventure where he luckily finds a good bunch of

0:39.2

ramps. He won't tell us where he discovered this love child of garlic and spring onions,

0:44.9

but he does have some tips on how to whip them up for dinner.

0:55.7

But first...

1:03.7

Today, President Joe Biden and Kevin McCarthy, the speaker of the House of Representatives,

1:09.8

will meet to discuss the rather pressing problem of America's debt ceiling.

1:15.5

America is fast approaching the ex-states of June 1st, when Janet Yellen, the Treasury

1:21.4

Secretary, says the country could run out of money to pay its bills.

1:26.6

I just finished a phone call with the president, he's still flying back.

1:30.2

Mr. Biden and Mr. McCarthy spoke on the phone yesterday, ahead of today's meeting.

1:34.9

What I'm looking at are where our differences are and how could we solve those.

1:40.7

And I felt that part was productive. But look, there's no agreement. We're still a part.

1:48.5

Speaking yesterday at the end of the G7 summit,

1:51.8

Joe Biden called demands from Republicans in the House unacceptable.

1:56.4

It's time for Republicans to accept that there's no bipartisan deal to be made solely,

2:03.6

solely on their partisan terms.

2:06.6

The president has now hurried back to Washington.

2:09.8

The debt ceiling, which is the hard limit on how much the government can borrow,

...

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