The Biden-McCarthy debt ceiling deal.
Tangle
Isaac Saul
4.8 • 672 Ratings
🗓️ 30 May 2023
⏱️ 26 minutes
🧾️ Download transcript
Summary
The debt ceiling deal. Days before a potential default, President Biden and House Speaker Kevin McCarthy announced an agreement to suspend the debt limit for two years. The Fiscal Responsibility Act will cut spending, speed up permitting for some energy projects, enact new work requirements for food stamps and TANF, recover $28 billion in unspent Covid money, and redirect roughly $20 billion of IRS funds to other agencies. While party leaders have agreed to the deal, it still faces an uncertain path in the House and Senate, where some opposition has popped up on both sides of the aisle. You can find our previous coverage of the debt limit here.
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Transcript
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| 0:34.5 | From executive producer Isaac Saul, this is Tangle. |
| 0:44.7 | Good morning, good afternoon and good evening, and welcome to the Tangle podcast and independent, nonpartisan subscriber-supported politics podcast where we summarize the best arguments from across the political spectrum on the news of the day. And then I give you my take. I'm your host, Isaac Saul. And on today's episode, we're going to be talking about the debt limit deal struck by |
| 1:12.9 | President Biden and Republicans in Congress. Hope everybody had a great Memorial Day weekend. Before we |
| 1:19.9 | jump in, as always, we'll kick it off with some quick hits. First up, Stuart Rhodes, the founder of the far-right militia group Oathkeepers, was sentenced to 18 years in prison on seditious conspiracy charges for his role in January 6th. |
| 1:41.1 | It is the longest prison sentence yet related to the riots at the Capitol building. |
| 1:45.9 | Number two, on Thursday, the Supreme Court cut back the federal government's ability to regulate |
| 1:50.8 | wetlands under the Clean Water Act, ruling in favor of an Idaho couple that had sued the EPA. |
| 1:57.3 | The ruling on this specific case was unanimous, though the five conservative justices went further in narrowing the scope of the Clean Water Act. |
| 2:05.8 | Number three, Florida Governor Ron DeSantis raised $8.2 million in the first 24 hours after his presidential announcement. |
| 2:14.7 | Number four, the Texas House of Representatives voted to impeach State Attorney General |
| 2:19.0 | Ken Paxton, a Republican, on allegations of bribery, obstruction of justice, and misusing public |
| 2:24.8 | funds. Number five, Turkey's president, Recep Erdogan, won a runoff election by a 52 to 48 |
| 2:32.2 | margin, securing a third term in office. |
| 2:46.0 | Congress is set to vote this week on a bipartisan agreement to suspend the debt ceiling |
| 2:50.6 | and avert a potential government default. |
| 2:53.3 | House Speaker Kevin McCarthy and President Biden were able to finally reach a two-year agreement over the weekend. |
| 2:58.4 | This after weeks of negotiations, both leaders are now working to convince lawmakers in their respective parties to back the deal. |
| 3:06.0 | Members of Congress, they return to Capitol Hill today. |
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