Jan. 26, 2023: Why this debt ceiling showdown is different

With a catastrophic federal default potentially months away, Wall Street and the rest of America is reacting with a big yawn — and, honestly, can you blame them? The high-stakes debt standoffs of Barack Obama's presidency each ended with last-second deals that avoided economic calamity and saved face for all the principals involved. Washington went on to lift the debt limit four more times with minimal drama. So why are so many veterans of the first modern debt ceiling showdown freaking out? Across party lines and perspectives from both ends of Pennsylvania Avenue, those who lived through the 2011 showdown agree on one thing: This time feels different — and they are terrified that it will end with the country in financial ruin, as Eugene Daniels and Adam Cancryn report this morning. And Donald Trump can now return to Facebook and Instagram following a decision by Meta that will end the former president’s two-year suspension from the platforms. More from Rebecca Kern The view from Meta: “The public should be able to hear what their politicians are saying — the good, the bad and the ugly — so that they can make informed choices at the ballot box,” Meta policy guru Nick Clegg said. Read Meta’s full blog announcement Politco tech reporter Rebecca Kern joins the show with more details. Subscribe to the POLITICO Playbook newsletter