The Debt Ceiling: "a useful hostage if you are a cynical demagogue."
The Bill Press Pod
BP Pods
4.7 • 601 Ratings
🗓️ 24 January 2023
⏱️ 39 minutes
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Summary
It's that time. When a Republican Congress and a Democratic president face off over an archaic procedure known as the debt ceiling. You've probably heard about it, so we decided to do a deep dive to understand what's going on in the next few weeks and months as the radical Republicans in the House hold the world's economy hostage to their demands for cutting Medicare Social Security and defense. To dig into this topic we turn to one of the sharpest voices on the intersection of economics and politics, Catherine Rampell, a syndicated columnist based at the Washington Post. She's also a economics and political commentator for CNN.
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Transcript
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| 0:00.0 | Searching for a romantic summer getaway. Escape with Rich Girl Summer, the new Audible original |
| 0:05.2 | from Lily Chew. The exquisitely talented Philippa Sue, returning to narrate her fifth |
| 0:10.2 | Lily Chew title. This time, Philippa is joined by her real-life husband, Stephen Pasquale, |
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| 0:41.3 | Valerie learns her summer is about to get far more complicated |
| 0:44.0 | than she ever planned. |
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| 1:04.9 | Hello, good friends. Good to see you and welcome back to the Bill Press pod. |
| 1:10.2 | Well, last year we were all worried about all the bad things that might happen were Republicans to take over |
| 1:11.2 | control of the House of Representatives. And once they did take over, it didn't take long for us |
| 1:17.2 | to discover it may turn out even worse than we thought. As their first priority, Kevin McCarthy |
| 1:24.3 | announced that Republicans would refuse to raise the debt ceiling unless Democrats |
| 1:28.8 | agreed a massive cuts in Social Security and Medicare. |
| 1:32.8 | Not only that, they promised, if they didn't get all the spending cuts they wanted, they |
| 1:37.9 | were also willing to shut down the government. |
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