McCarthy Says House Will Pass Debt Bill This Week

The transcript discusses the challenges faced by McCarthy in securing votes to pass a bill to increase the debt ceiling, highlighting the slim Republican majority in the House. It outlines the Republican strategy to counter Biden's demand for an unconditional debt ceiling increase by proposing cuts to social programs. The transcript also covers market reactions to the political risks and the potential impact on Treasury markets, with concerns about when the U.S. might run out of money to service its debt.

What role does Senator Joe Manchin play in the current political situation regarding the debt ceiling?

What is the significance of the July or August timeline mentioned in relation to the debt ceiling?