of the economy that have weakened, and as you say, we re starting to see layoffs, no one is necessarily predicting armageddon. we could see a mild to moderate recession later in the year. we re about on pace. what a lot of us expected was a recession or notable slow down in the third or fourth quarter of 2023. allie, did you want to add something? we spoke last hour about what sort of level of involvement the president has in these ongoing talks as white house negotiators try to sell this deal to progressives and moderate members of their party. he departed to wilmington, delaware, from the white house just a few minutes ago, and he gave a little bit of an update. he was asked if he was confident this deal will pass. he replied, quote, i m never confident with what the congress is going to do, but i m confident. then he was asked what his message was to skeptical democrats, those democrats who have criticized pieces of this deal, like the added work
i m sure she ll love to hear that. ron, thank you so much, and julie and allie, appreciate it. it just fell down, an apartment building in davenport partially collapsed all of a sudden. it is not actually what you re looking at right now. president biden and speaker mccarthy, they didn t collapse. they came to a deal, but i promise you we re talking about iowa in a second. don t go anywhere. ing about iowa in a second don t go anywhere. - representative! - sorry, i didn t get that. - oh buddy! you need a hug. you also need consumer cellular. get the exact same coverage as the nation s leading carriers
everybody involved in this war otherwise you re going to see a revolt within that country. general barry mccaffrey, thank you very much. and after finally coming to a debt deal, the president is now finally headed to delaware. here s what he told reporters about the deal a moment ago before boarding marine one. are you confident it will pass congress? look, you know i never say i m confident what the congress is going to do, but i feel very good about it. i ve spoken with a number of the members. i spoke to mcconnell. i spoke to a whole bunch of people. it feels good, we ll see when the vote starts, and look, one of the things that i hear some of you guys saying is why doesn t biden say what a good deal it is? why wouldn t biden be saying what a good deal it is before the vote. you think that s going to help me get it passed? no. president biden before he boarded marine one, and want to be president, ron desantis s
justifiably proud, but more than anything, happy to have him home. thanks to harry smith. and it is right now 3:00 p.m. on the east coast, good to be with you, i m katy tur. will we avoid a debt default. it s not up to congress. or it is up to congress now. it s now up to congress. speaker kevin mccarthy and president biden have a deal, and now they are trying to convince their parties to vote for it. so what exactly is in this deal? a two-year suspension on the debt ceiling, a cap on spending keeping it at 2023 levels for the next two years. clawing back unspent covid funds, more requirements on s.n.a.p. benefits and temporary assistance programs, work requirements, that is, and 20 billion less for the irs. but perhaps most importantly, unlike the 2011 debt deal,
happen. we have no reason to believe at least one democrat wouldn t support that push because this bill was negotiated by president biden, who s the leader of the party. in the past, traditionally, the opposing party, the minority party doesn t do the majority party any favors in moving smlg something out of the rules committee. that meeting is going to start 24 hours today. that will be something to watch. let me ask you about the senate. we heard senator mike lee saying he would do everything to stop this bill. lindsey graham is not happy with the bill and the defense spending within it. do we have an idea of what this might look like when it gets to the senate? i know minority leader mitch mcconnell is saying that this is a good deal. it s a great question. it s interesting. senator lee and senator graham oppose it for very different reasons. lee, and that faction say it doesn t do enough to cut spending. graham is saying this isn t enough money for defense spending, which we