An economist's breakdown of Congress' spending and its impact on Arizona's economy

The economics of the proposed spending of two major
infrastructure bills along with a debate over raising the debt
celling is playing out in Congress.  There are three separate
but important things happening. The first is the $1.2 trillion
physical infrastructure bill that passed the Senate and waits
action in the House.  The second is the broader $3.5 trillion
human infrastructure bill that comprises much of President Joe
Biden's political agenda. That measure is being scaled back because
of concerns raised by both Sen. Kyrsten Sinema, D-Ariz., and Sen.
Joe Manchin, D-W.Va.  Third, Congress still needs to
raise the debt celling to approve borrowing for previous spending.
The deadline for that is in early December, and if Congress fails
to raise the debt figure, it could create chaos in global financial
markets. For now, Senate Republicans want Senate Democrats to pass
that provision without their support.   How does all the
proposed Congress spending impact the nation's and Arizona's
economy?  In this week's episode of The Gaggle, an
Arizona politics podcast, hosts Yvonne Wingett Sanchez and
Ronald J. Hansen speak with Arizona State University
economics professor Dennis Hoffman. He breaks down how the long
term investments could impact Arizonans. Learn more about your ad
choices. Visit megaphone.fm/adchoices