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Post Reports

The debt deal nobody likes

Post Reports

The Washington Post

Daily News, Politics, News

4.45.1K Ratings

🗓️ 1 June 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

The United States won’t default on its debt payments, that’s the good news. The bad news? A lot of Democrats and Republicans are unhappy with the agreement that President Biden and House Speaker McCarthy crafted.


Yet, both men say the deal represents a win for their respective parties. So, who actually got what they wanted out of this deal? Rachel Siegel joins us to explain. 


Read more:


Here’s what’s in the debt ceiling bill


The new SNAP work requirements in the debt bill, explained 



Transcript

Click on a timestamp to play from that location

0:00.0

Yez of 314, the Nasr 117, the bill has passed.

0:10.7

You could watch the House floor yesterday and say, wow, this is a bill that was brokered

0:16.5

by negotiations on both sides.

0:18.7

It's getting bipartisan support.

0:20.8

It's going to pass the Senate.

0:22.8

This is a good day for American democracy.

0:29.3

Rachel Siegel is an economics reporter for the post.

0:32.2

And for the last couple of weeks, she's been on the hill.

0:35.0

And that's because of the debt ceiling negotiations that nearly brought the global economy to

0:39.3

its knees.

0:40.7

So yes, Rachel says, this could be seen as a good day for democracy.

0:45.7

But also...

0:46.7

There was negotiating over the debt ceiling in the first place, which a lot of people

0:50.0

argued should never have been the case.

0:52.8

And this is something that is just a part of governing.

0:56.2

But in divided government, we of course cannot allow the perfect to be the enemy of the

0:59.8

good.

1:00.8

This deal fails.

1:02.5

Fails completely.

1:03.8

And that's why these members and others will be absolutely opposed to the deal, and

1:09.1

we will do everything in our power to stop it.

1:13.4

There were a lot of really sour feelings about why we were even there in the first place

...

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