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With the government on track to reach its borrowing limit within days, negotiators sealed an agreement to raise the debt ceiling for two years while cutting and capping certain federal programs.
Top White House and Republican negotiators on Saturday reached an agreement in principle to raise the debt limit for two years while cutting and capping some government spending over the same period, a breakthrough after a marathon set of crisis talks that has brought the nation within days of its first default in history.
With the right and the left up in arms about the agreement in principle reached by the president and the speaker, both sides started to make the case for its quick passage, a tall order in Congress.
What day is it, anyway? As talks drag on, the situation is getting painful for everyone from the negotiators to the tourists on Capitol Hill.
President Joe Biden said a deal to resolve the government's debt ceiling crisis seemed "very close" late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the White House and Republicans into another frustrating week.