The NPR Politics Podcast Lawmakers Created A Needless Crisis. They're Close To Solving It.
May 30, 2023
Political maneuvering takes center stage as Democrats gamble with the debt ceiling, opting not to raise it during their control, leading to a crisis. Republicans play hardball, holding global financial stability hostage for minor wins. The pressures of bipartisan negotiations unfold, revealing past leadership impacts on current strategies. Amid public indifference towards debt until it hits home, discussion highlights missed opportunities and internal party tensions that could shape future legislation.
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Deal Outline
- The deal raises the debt ceiling through 2024 and includes spending cuts.
- It focuses on non-defense programs, leaving Medicare and Social Security untouched.
Policy Provisions
- The deal includes provisions to speed up energy project permitting and new work requirements for some safety net programs.
- Republicans failed to roll back the Inflation Reduction Act.
McCarthy's Risk
- McCarthy faces a risk if he can't pass the bill with a majority of Republican votes.
- Relying on Democratic votes would signal weakness.