Brookings Institute's Sheiner on Debt Limit Deal

The video discusses a bill sent to the Senate, focusing on the debt ceiling suspension until 2025, spending adjustments, and IRS funding cuts. It highlights the political landscape and potential future challenges, including economic implications and long-term fiscal issues. The deal prevents a government shutdown and includes new work requirements for benefits, with minimal economic impact expected.

What is the duration of the debt ceiling suspension mentioned in the deal?

• Until the end of 2025

• Until mid-2024

• Until the beginning of 2025

• Until the end of 2023

What measure is included in the deal to prevent a government shutdown?

• Increase in nondefense discretionary spending

• Extension of the debt ceiling

• Automatic cut of 1% from last year's spending level

• Automatic increase in defense spending

How much funding did the IRS lose in the deal?

• $10 billion

• $21 billion

• $30 billion

• $40 billion

What is a potential consequence of the divided government mentioned in the transcript?

• Immediate resolution of long-term issues

• More political brinksmanship

• Reduction in government spending

• Increased cooperation between parties

What change was made to the work requirements for SNAP in the deal?

• No change to work requirements

• Work requirements were eliminated

• Increased work requirements

• Decreased work requirements

What is the expected impact of the deal on the US economy according to the transcript?

• Significant economic growth

• Major economic contraction

• Immediate resolution of inflation

• Very small economic impact

What long-term issues are not addressed in the current political environment according to the transcript?

• Government shutdown prevention

• Nondefense discretionary spending

• Social Security and Medicare

• Defense spending