This podcast episode provides a comprehensive overview of key issues to watch in Washington, D.C., including tech regulation, defense spending, and the risk of a government shutdown. The speakers highlight potential new legislative proposals on data privacy and misinformation liability due to growing bipartisan concern but emphasize that comprehensive agreement is unlikely before the 2024 election. On defense spending, aid to Ukraine is expected to continue, and Congress will likely approve overall spending levels above the debt ceiling limit, although brinkmanship between House Republicans and the rest of Congress could lead to a shutdown. The speakers emphasize the downside risk to growth in the fourth quarter, but note that high-grade bonds offer value due to the expectation that US government bond yields are near their peak.