Who Will Blink First? The Debt Ceiling Debate with Rich Gold

Rich Gold returns to the podcast to talk with Jim about the looming debt limit in Washington D.C, why this issue of coming to an agreement is so important, and what could happen if no agreement is made.

Topics covered in this episode include:

• How things are going at Holland & Knight.

• An update on the debt limit negotiations.

• What makes this different than the last time it happened?

• A recap of where the negotiating started and where it is now.

  • What the Republicans want

  • What the Democrats are trying to do to compromise with the Republicans

• What would need to happen for the Republicans to get everything they want and why it's not realistic?

• Why the current options won't get enough votes to go through?

• Balancing the right amount of budget cuts.

• Will they eventually come to a comprise at the end of the day?

• What happens if they don't?

• Why it's not a good idea to cut a deal right before the deadline and what happened last time a deal was cut before the deadline.

  • The real-world impacts that occurred.

• Can a divided government happen with a Republican president and Democrats controlling Congress?

  • The shift of the Republican party.

• What could happen if a Republican votes and Donald Trump doesn't approve of it.

• Work requirements.

• The significance of agreeing to freeze the limit.

• Is the military budget increase normal or for something specific?

• What makes up the budget deficit?

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