Every year, the U.S. government spends more money than it takes in. In order to fund all that spending, the country takes on debt. Congress has the power to limit how much debt the U.S. takes on. Right now, the debt limit is $31.4 trillion dollars. Once we reach that limit, Congress has a few options so that the government keeps paying its bills: Raise the debt limit, suspend it, or eliminate it entirely.
That debate and negotiations are back this season. One thing that is in short supply, but very important for these negotiations, is good information. Shai Akabas, of the Bipartisan Policy Center, knows this well. Right now, he and his team are working on figuring out when exactly the U.S. government could run out of money to pay its obligations — what they've dubbed: the "X Date."
Shai is determined to help prevent the U.S. government from blowing past the X Date without a solution. But this year's debt-ceiling negotiations are not going very well. Which is daunting, because if lawmakers don't figure something out, the ramifications for the global economy could be huge.
So, how did Shai become the go-to expert at the go-to think tank for debt ceiling information? It started in 2011, back when he and current Chair of the Federal Reserve Jay Powell, armed with a powerpoint and the pressure of a deadline, helped stave off economic disaster.
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CoinDesk Podcast Network - THE HASH: Binance Reportedly Mulls Cutting US Ties; Revelations in SEC’s Charges Against Do Kwon and Terraform Labs
The most valuable crypto stories for Friday, Feb. 17, 2023.
Binance Holdings, the world’s largest crypto exchange by volume, is considering severing its ties with U.S. business partners amid heightened scrutiny from regulators, according to Bloomberg. Separately, the U.S. Securities and Exchange Commission (SEC) released a 55-page document detailing various charges of fraud against Do Kwon and Terraform Labs, alleging Kwon and others “engaged in a scheme to deceive and mislead investors … in the U.S. and abroad.” The Hash hosts share their insights on these top stories of the day.
See also:
Binance Considers Severing US Ties in Face of Crypto Crackdown: Bloomberg
Trader Front-Runs Gains Network's Listing on Crypto Exchange Binance to Profit $100K
4 Huge Revelations in the SEC’s Charges Against Do Kwon and Terraform Labs
SEC Sues Terraform Labs, Do Kwon for Misleading Investors on TerraUSD Stablecoin
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This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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The Gist - Economic Growth Still Works
In the new book The Crisis of Democratic Capitalism, Martin Wolf, Chief Economics Commentator at the Financial Times, discusses the clearest ways available to save a system that’s delivered prosperity and freedom. Plus, its an Antwentig! And a car crashes into a 7-Eleven every day, but, to our credit, no one makes the “we must find this car and stop it” joke on the show today … so, you’re welcome.
Produced by Joel Patterson and Corey Wara
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Reset with Sasha-Ann Simons - WBEZ’s Weekly News Recap: Feb. 17, 2023
Gov. JB Pritzker gives the State of the State address and unveils plans for education funding, Chicago Mayor Lori Lightfoot focuses attacks on Cook County Commissioner Brandon Johnson and the Chicago Bears take a giant leap toward Arlington Heights. We break down these top local stories and more with Brandon Pope, reporter/anchor at CW 26, Corli Jay, reporter with Crain’s Chicago Business and Derrick Blakley, former CBS2 Chicago politics reporter.
Consider This from NPR - What Happens After The Protests In Iran?
"This kind of dissent? It doesn't go away." That's what NPR heard from a 20-year-old woman on the street in Tehran.
Mary Louise Kelly and a team of producers traveled there last week to see what life looks like, and what remains of the protests that shook the country for months, sparked by the death of 22-year-old Mahsa Amini.
Amini died in police custody after being detained, reportedly for improperly wearing a headscarf, part of Iran's strict dress code for women. Human rights groups say the regime cracked down on those protests with killings, arrests and executions.
In Iran, NPR found people frightened of the regime, but who felt nevertheless compelled to air their grievances.
We speak with Ali Vaez, an Iran expert with the International Crisis Group, about the lingering discontent behind the protests and what could happen next.
Find more of NPR's reporting from Iran.
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Mary Louise Kelly and a team of producers traveled there last week to see what life looks like, and what remains of the protests that shook the country for months, sparked by the death of 22-year-old Mahsa Amini.
Amini died in police custody after being detained, reportedly for improperly wearing a headscarf, part of Iran's strict dress code for women. Human rights groups say the regime cracked down on those protests with killings, arrests and executions.
In Iran, NPR found people frightened of the regime, but who felt nevertheless compelled to air their grievances.
We speak with Ali Vaez, an Iran expert with the International Crisis Group, about the lingering discontent behind the protests and what could happen next.
Find more of NPR's reporting from Iran.
In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community.
Email us at considerthis@npr.org.
Learn more about sponsor message choices: podcastchoices.com/adchoices
NPR Privacy Policy
Big Technology Podcast - Bing Breaks Bad, Metaverse Fades, Tesla’s Self-Driving Recall
Ranjan Roy of Margins is back for our weekly discussion of the week's tech news. We cover: 1) Bing's chatbot's dark side and its impact on Microsoft's business. 2) The Metaverse slowly seeming to fade away. 3) The New York Times' article on why ads are bad now. 4) Spotify's podcasting reality check. 5) Susan Wojcicki stepping down from YouTube. 6) Tesla's Full Self Driving Recall. 7) Why we don't live in the moment anymore.
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The Daily Signal - TOP NEWS | SCOTUS Removes Title 42 from Calendar, McCarthy Visits the Border, 4 U.S. Service Members Injured After Helicopter Raid | Feb. 17
On today’s Daily Signal Top News, we break down:
- Supreme Court removed arguments from its calendar for a highly anticipated case on Title 42
- House Speaker McCarthy visits southern border
- 4 U.S. service members and a combat dog were injured Thursday night
- Nikki Haley takes a swipe at Gov. Ron DeSantis
Relevant Links
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Focus on Africa - Chaos over currency in Nigeria continues
The state of the Nigerian nation ahead of elections, as tensions over the shortage of new currency continue.
Also, the M23 rebel movement rejects a new report accusing it of perpetrating rape in the eastern DRC.
And South Africa begins ten days of naval training exercises with Russia and China.
Those stories and more in this podcast with Esau Williams
CoinDesk Podcast Network - BREAKDOWN: Is the SEC’s Terra Lawsuit Trying to Set Precedent That Stablecoins are Securities?
Several tokens are listed as securities in the lawsuit, and Do Kwon is accused of fraud.
In today’s episode, NLW breaks down a slew of late-breaking news, including:
- Terraform Labs and Do Kwon are being sued by the SEC
- Binance US made strange transfers of $400 million between 2020 and 2021, according to Reuters
- Judge Kaplan threatens to revoke SBF's bail
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“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Aitor Diago /Getty Images, modified by CoinDesk.
Join the discussion at discord.gg/VrKRrfKCz8.
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Visit consensus.coindesk.com.
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Federalist Radio Hour - Check Out The Chicks On The Right!!
Mock & Daisy’s Common Sense Cast is a healthy dose of common sense each week with no bull. Mock and Daisy is hosted by Miriam Weaver (Mock) and Amy Jo Clark (Daisy) of the top rated Chicks on the Right radio show on WIBC-FM in Indianapolis.
Each week on the Common Sense Cast, the duo delivers a funny, engaging and informative commentary alternative to the traditional news outlets, as well as a safe space to poke fun at our country’s leaders, policies, and political and cultural direction.
Each week on the Common Sense Cast, the duo delivers a funny, engaging and informative commentary alternative to the traditional news outlets, as well as a safe space to poke fun at our country’s leaders, policies, and political and cultural direction.