The Intelligence from The Economist A run for its money: funding crunches in Congress
Sep 28, 2021
Idris Kaloun, The Economist's Washington correspondent, shares insights on the precarious financial situation in the U.S. Congress. He discusses the looming budget deadlines and their potential impact on Biden's social-spending reforms. The conversation also dives into South Korea’s controversial legislation on fake news, highlighting its risks to journalistic freedom. Lastly, Kaloun touches on a French art initiative that seeks to engage audiences amidst global uncertainties, blending politics and creativity in a compelling narrative.
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Congressional Funding Crunches
- Three spending pushes in Congress—Biden's agenda, the federal budget, and the debt ceiling—are colliding.
- These concurrent deadlines complicate passing legislation and threaten a government shutdown.
Debt Ceiling Standoff
- Democrats aim to pass a bipartisan infrastructure plan and Biden's social spending plan.
- Republicans oppose raising the debt ceiling, potentially causing a government shutdown.
Balancing Infrastructure and Social Spending
- Passing the bipartisan infrastructure plan is challenging due to disagreements within the Democratic party.
- Progressives want to link it with Biden's larger social spending bill, creating a delicate balancing act.