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Jun 5, 2023

Crisis Averted on the Debt Ceiling — For Now: Big Take Podcast

Victoria Vergolina, Bloomberg News

The US Capitol in Washington, DC, US, on Friday, June 2, 2023. The Senate passed legislation to suspend the US debt ceiling and impose restraints on government spending through the 2024 election, ending a drama that threatened a global financial crisis.

The US Capitol in Washington, DC, US, on Friday, June 2, 2023. The Senate passed legislation to suspend the US debt ceiling and impose restraints on government spending through the 2024 election, ending a drama that threatened a global financial crisis. , Bloomberg

(Bloomberg) -- Listen to The Big Take podcast on iHeart, Apple Podcasts, Spotify, Terminal.

The months-long fight over raising the debt ceiling is finally over. That means the threat of the US defaulting on its debts and a resulting economic crisis is off the table — at least for the next two years. So what happened? And how will it shape the economy, the political climate and future debt negotiations?

Bloomberg Congressional reporter Steven Dennis and White House reporter Jordan Fabian join guest host Nancy Cook to break down what the final agreement means and the impact it will have.

Read more: Debt-Limit Deal Clears Congress, Ending Threat of US Default

Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK

Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.

This episode was produced by Supervising Producer Vicki Vergolina and Senior Producer Kathryn Fink.

©2023 Bloomberg L.P.

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