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at any moment now, president biden is going to speak on the phone and finalize the bill. the president had this to say about the negotiations. >> reporter: mr. president, are you positive this deal will get to your desk? >> yes, it will. i'm about to call mccarthy at 3:00, make sure all the ts are crossed and the is are dotted. >> reporter: what are the sticking points? >> none. >> should all democrats vote for this bill? >> still anyone's guess if the house has enough votes to get this bill to the president's desk. but speaker mccarthy says he's confident the deal will pass. >> back...

>> announcer: this is cnn breaking news. you're live in the "cnn newsroom." i'm jim acosta in washington, a very late saturday night on memorial day weekend but we're here for good reason. we're here in a crucial moment on debt ceiling talks. multiple sources tell cnn that the white house and house republican leaders have reach an agreement in principle, we should note in principle on raising the nation's debt ceiling. just ten minutes from now house speaker kevin mccarthy will address reporters we're told, and then at the bottom of the hour republican leaders will brief their fell...

before the u.s. defaults. not everyone is confident a deal can be reached, with at least one top republican negotiator warning a deal could come together as soon as today or fall apart entirely. what is the mood on capitol hill right now? >> reporter: good afternoon. the mood is more optimistic than we've heard in days. negotiators here this morning are saying they think they're closing in on a deal and really it's all about having an agreement on the agreement and hashing out the remaining sticking points, which we're told are on work requirements and spending caps. we heard speaker...

not default in 11 days when the u.s. government runs out of money and is unable to pay its bills. we have team coverage of all of these new developments. phil mattingly is in japan at the g7 summit. let's begin with melanie in washington, d.c. help us understand where things stand. is the president optimistic? >> reporter: what i would say is the talks have not blown up completely yet but they are hanging by a thread. after a weekend of rejected offers, installed talks, the negotiators were really looking for a much-needed reset and they may have gotten it in that phone call today be...

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