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The bar was set low for Speaker of the House Kevin McCarthy, known more for politicking and fundraising than for policymaking. But, in the end, he delivered a debt-limit agreement that few expected, leaving some of his Republican colleagues feeling deceived
The last time the United States came perilously close to defaulting on its debt, a Democratic president and a Republican speaker of the House cut a deal to raise the nation’s borrowing limit and tightly restrain some federal spending growth for years to come. The deal averted default, but it hindered what was already a slow recovery from the Great Recession.
President Joe Biden and House Republicans have reached a deal to raise the government's debt ceiling and avert a devastating default. Here are the key takeaways from the agreement, which still needs to be approved by a divided Congress in a vote on Wednesday
By Steve Holland, Moira Warburton and Rami Ayyub WASHINGTON (Reuters) -Democratic President Joe Biden and a Republican negotiator said on Friday they were working on a deal to raise the U.S. government's $31.4 trillion debt
Without deal, US could face calamitous default