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Planet Money

Two indicators: Congressional Game Theory and the Debt Ceiling

Planet Money

NPR

Business, News

4.629.8K Ratings

🗓️ 22 October 2021

⏱️ 17 minutes

🧾️ Download transcript

Summary

We bring you two stories from The Indicator on the recent battles being fought in Congress. | Subscribe to our weekly newsletter here.

Transcript

Click on a timestamp to play from that location

0:00.0

NPR.

0:05.7

So it has been a very confusing and very chaotic couple of months in Congress.

0:12.4

No doubt.

0:13.4

They couldn't even pass the bipartisan infrastructure bill, which the president...

0:17.2

Core infrastructure legislation hostage.

0:20.4

legislation was basically hold one hostage over the other.

0:23.6

There is an enormous infrastructure bill for things like ports and highways, and there

0:28.1

is also a social spending bill, which proposes things like cheaper prescriptions and an expanded

0:33.3

child tax credit.

0:35.1

And as politicians argue among themselves, we've seen redrafts, voting delays, and a lot

0:41.3

of frustration in Congress.

0:43.4

All or nothing policy demands.

0:45.8

Making this process quite difficult, you know, there was a...

0:48.2

It is really not playing fair.

0:50.2

So all of this sounds very chaotic and, you know, just sort of like the big mire of politics.

0:57.6

But there is actually a science underneath all of this.

1:01.1

The golden threads of logic do run through this tapestry of seemingly endless debate.

1:08.0

There is an academic field, which is often used in economics that can actually help explain

1:12.9

what each side is doing in these tussles over the spending bills.

1:17.2

And it is...

1:18.1

Game Theory.

1:21.1

Hello and welcome to Planet Money.

...

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