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Biden_Debt_Limit_45897The debt ceiling deal has come with just days to spare before a potential first-ever government default. On Sunday, President Joe Biden and House Speaker Kevin McCarthy reached a final agreement and they are urging Congress to quickly pass it. Biden pronounced the development “good news” in remarks at the White House announcing the agreement. This followed a tentative compromise announced late Saturday. The deal risks angering some Democratic and Republican lawmakers as they begin to unpack the concessions, which include spending cuts. McCarthy and Biden spoke Sunday evening as negotiators drafted legislative text. They face a June 5 deadline when Treasury says the U.S. would risk a debt default.
Originally published at Associated Press