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Sep 01, 2023

What’s next after the debt limit deal for Congress and the presidential race

Lisa Desjardins

Lisa Desjardins Lisa Desjardins

Harry Zahn Harry Zahn

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After hammering out a deal to suspend the U.S. debt limit and avert a default disaster, leaders in both parties are already looking ahead. Bloomberg congressional reporter Erik Wasson and The 19th's founder and editor at large Errin Haines join Lisa Desjardins to discuss the future of both the legislative and executive branches.

Lisa Desjardins:

After hammering out a deal to suspend the U.S. debt limit and avert a default disaster, we have a rarity in Washington compromise with leadership in both parties declaring victory but they like us are already looking ahead.

The debt deal pushes one political drama down the road, but another is heating up fast, with more Republicans entering the 2024 presidential ring. The future of both the legislative and executive branches is the focus of our weekend briefing.

Erik Wasson is a congressional reporter at Bloomberg and Errin Haines is a founder and editor at large for the 19th. Errin Haines, I want to ask you about the meaning of this deal. What are your takeaways as far as who am Washington, which Americans could be affected by this?

Errin Haines, The 19th: Well, I think there's definitely some concern among both younger voters and frankly, people that are closer to my age that are still paying off student loan debt because the student loan debt moratorium was one of the casualties in this debt ceiling deal compromised, that people who had had their student loans frozen during the pandemic are going to have to start repaying those loans in the next couple of months.

These are people who maybe are still struggling to do that maybe also people who were hoping for student loan debt forgiveness from this administration.

Lisa Desjardins:

Erik, who do you think gained and lost here?

Erik Wasson, Bloomberg News:

I think President Biden gains a lot with independent voters, people in this swing districts, you know, and swing voters really like dealmaking. There was some polling that came out before the deal that said 60 percent is a CNN poll wanting to see spending cuts attached, as you mentioned, there are going to be some people of both student debt, you know, holder, yes, and those who receive food stamps, there's going to be an expansion of some work requirements for those in the 50 to 55 year old range and more paperwork requirements that quite frankly, could make it harder for them to find food.

But overall, it's a spending freeze, and it's full of more holes in Swiss cheese. And I think we saw right before the Senate acted that there's a big bipartisan push to do it what's called an emergency spending bill to shoehorn and backdoor a lot of spending, both for Ukraine and for things on the domestic side that this could make these caps pretty meaningless pretty quickly.

Lisa Desjardins:

Now, also, during this week, Errin, of course, Ron DeSantis, became official candidate for president. We've been waiting maybe since he ran for governor for that announcement. But he has a very uphill climb, and maybe does everyone else in the Republican primary field. What is the path here for someone other than Donald Trump?

Errin Haines:

You know, for Vice President Mike Pence and Chris Christie expected to be announcing imminently. Look, I think, you know, after the former President Trump defining DeSantis for months, even before he became an official candidate, you now have DeSantis in this official candidacy role attempting to define himself, and even going from I think the culture warrior that a lot of people recognize him as, as somebody who maybe is willing to take on former President Trump, which a lot of voters who might be looking for an alternative to Donald Trump.

We're wondering whether he would do and whether he could do that successfully. And so you see him on the campaign trail this week, bringing up the issue of term limits, and really questioning Donald Trump's assertion that he doesn't need eight years in office.

So how that's going to play out with voters. DeSantis is clearly spending a lot of time in Iowa. We're going to see a lot more of the candidates in Iowa, even you know, through this weekend, and so voters are going to have a chance to begin to get to know them.

But again, we're still 520 plus days away from election day, so a lot of time for all of these candidates to attempt to distinguish themselves and maybe, you know, knock Trump off of his front runner campaign pedestal that he at least seems to be pretty shit secure and holding for now.

Lisa Desjardins:

Erik, a lot of echo that we've heard in the halls of the Capitol than past couple of weeks. What arguments are you hearing shape up for? 2024?

Erik Wasson:

Well, you know, I think this is going to be a big impact on House races of this deal. I think, you know, Kevin McCarthy's future is very much in doubt, we'll see if he can hold on to the speakership. But overall, I think the deal benefits the swing district, moderate Republicans, it makes them look like dealmakers, it could on the other hand, hurt McCarthy's ability to raise big dollars from donors.

Lisa Desjardins:

How soon do you think Speaker McCarthy could be in trouble?

Erik Wasson:

I think we could see it as soon as the coming week that they could try to bring a motion to oust him from the speakership. I would suspect that would failed for several reasons. But there are a group of Democrats who are willing to bail out the speaker on that vote.

It'd be a very strange situation. We haven't really seen this kind of coalition, no confidence vote in U.S. politics, and we remains to be seen if that would hurt McCarthy politically, but I think he's got a backstop there where he is willing to call the bluff and so far he is he said, he's basically saying bring it on. Try to oust me.

Lisa Desjardins:

This was major news this week on both these fronts, but yet I did not feel the electricity in any of this. I think the American public is exhausted maybe just I'm exhausted. But how would you both in just a few words assess the mood of the electorate right now?

Erik Wasson:

I feel like fiscal issues aren't as prominent as they were. I covered the 2011 debt ceiling crisis where that was a big deal. It was very pop big issue among voters and I think cultural issues right now for Republican voters. Abortion on both sides is a big issue. There's a lot of things about teaching racism and in classes. I think that the motors are really not focused on the budget. Budget, it's always been a boring issue. But perhaps but I just thought the energy lack there that perhaps that allowed McCarthy to make a deal.

Lisa Desjardins:

Errin.

Errin Haines:

Yes. I mean, I think there probably is a little bit of the been there done that feeling on the debt ceiling, maybe that's why they're — there's kind of a lack of enthusiasm or interest around this issue. Also, you know, maybe a lack of understanding about how this debt ceiling issue is not just a Wall Street problem, but also a problem for everyday Americans on Main Street, you know, what is the on the ground reality for them? Maybe that connection was not clear enough, and so didn't really give them a reason to understand kind of what does this mean, for me.

Again, we're still over 500 days away from election day, not all voters are as locked into this as those of us who get paid to pay attention to this kind of thing for a living. And so I think, you know, as the Republican primary field begins to come more and more into focus as the primary season these debates, the primary elections begin to get underway. I think you'll see voters begin to pay more attention will see that they actually are quite engaged and interested in the outcome for 2024.

Lisa Desjardins:

Erik Wasson and Errin Haines, thanks to both of you very much.

Erik Wasson:

Thank you.

Errin Haines:

Thank you.

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Lisa Desjardins Lisa Desjardins

Lisa Desjardins is a correspondent for PBS NewsHour, where she covers news from the U.S. Capitol while also traveling across the country to report on how decisions in Washington affect people where they live and work.

Harry Zahn Harry Zahn