Pod Save America "Kook-ing With Gas."
Jan 19, 2023
Sarah Longwell, publisher of The Bulwark and a political strategist known for her focus groups and Never Trump stance, joins the discussion on pressing voter issues. They dive into the chaos around America's debt limit and how Republicans are leveraging it. Longwell shares insights on the impact of extreme candidates in elections and the shifting dynamics among Trump supporters. The podcast also tackles the quirky controversy over gas stoves, mixing humor with serious implications about health and government regulations.
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Debt Ceiling's Political Evolution
- The debt ceiling was initially meant to simplify government borrowing.
- It has become a political tool for leveraging spending cuts.
Debt Ceiling and Global Finance
- Raising the debt ceiling does not authorize new spending; it allows payment of existing debts.
- Breaching the debt limit risks global financial stability due to US bonds being the bedrock of the system.
2011 Debt Ceiling Crisis
- In 2011, the debt ceiling crisis caused significant economic damage.
- The stock market plunged, interest rates rose, and the US lost its credit rating.