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WBAL Radio 1090 AM - House to vote on debt ceiling deal as lawmakers race to prevent default
President Biden and House Speaker Kevin McCarthy are expressing optimism that their debt limit compromise deal, will be able to pass the House and Senate by the deadline June 5th.
Tim Graham/Getty Images(WASHINGTON) -- A critical deal to raise the nation's debt ceiling was announced over the weekend, and lawmakers in Washington now face one week to pass the bill in both chambers of Congress before the predicted deadline when default would begin. Unless the $31.4 trillion borrowing limit is increased, the U.S. will run out of cash to pay all of its bills in full and on time -- the so-called "X-date" -- as early as June 5, according to Treasury Secretary Janet Yellen. Despite the breakthrough on an agreement between President Joe Biden and House Speaker Kevin Mc...
Tim Graham/Getty Images(WASHINGTON) -- A critical deal to raise the nation's debt ceiling was announced over the weekend, and lawmakers in Washington now face one week to pass the bill in both chambers of Congress before the predicted deadline when default would begin. Unless the $31.4 trillion borrowing limit is increased, the U.S. will run out of cash to pay all of its bills in full and on time -- the so-called "X-date" -- as early as June 5, according to Treasury Secretary Janet Yellen. Despite the breakthrough on an agreement between President Joe Biden and House Speaker Kevin Mc...