An economist's breakdown of Congress' spending and its impact on Arizona's economy

The economics of the proposed spending of two major infrastructure bills along with a debate over raising the debt celling is playing out in Congress. 

There are three separate but important things happening. The first is the $1.2 trillion physical infrastructure bill that passed the Senate and waits action in the House. 

The second is the broader $3.5 trillion human infrastructure bill that comprises much of President Joe Biden's political agenda. That measure is being scaled back because of concerns raised by both Sen. Kyrsten Sinema, D-Ariz., and Sen. Joe Manchin, D-W.Va. 

Third, Congress still needs to raise the debt celling to approve borrowing for previous spending. The deadline for that is in early December, and if Congress fails to raise the debt figure, it could create chaos in global financial markets. For now, Senate Republicans want Senate Democrats to pass that provision without their support.  

How does all the proposed Congress spending impact the nation's and Arizona's economy? 

In this week's episode of The Gaggle, an Arizona politics podcast, hosts Yvonne Wingett Sanchez and Ronald J. Hansen speak with Arizona State University economics professor Dennis Hoffman. He breaks down how the long term investments could impact Arizonans.

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