Have you ever had your bank account overdrawn or ever heard your parents talking about spending more money than what's in their account? I have.
And this past week, I learned the US Federal Government faced the same challenge. Lawmakers on both sides of the political aisle spent the last month in a deadlocked negotiation before finally passing a bi-partisan deal (aka a compromise) to prevent our government from defaulting on our obligations and payments.
In this episode, we discuss how both Republicans and Democrats think about the final bill that President Joe Biden signed into law and just how close we came to bouncing A LOT of government checks.
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- Ashley
Sources:
-What's in the US debt ceiling deal? - BBC News
-Republicans speak out against US debt-ceiling deal, in sign of rocky road ahead | Reuters
-Democrats, worried about a Biden-McCarthy deal, push a backup plan to avoid default