Biden, GOP reach debt-ceiling deal, now Congress must approve it to prevent calamitous default


A debt ceiling deal has been reached by President Biden and the GOP now Congress must approve it to prevent a potentially disastrous U.S. default. Negotiators agreed to some Republican demands for increased work requirements for food stamp recipients, but stopped short of greater spending cuts overall that Republicans wanted, House speaker Kevin McCarthy calls it an agreement in principle worthy of the American people. As historic reductions in spending, consequential reforms and lift people out of poverty into the workforce, Rey and government overreach, there are no new taxes, no new government programs. In a statement, President Biden says the agreement represents a compromise, which means not everyone gets what they want. Central to the compromise a two year budget deal that would hold spending flat for 2024 and increase it by 1% the following year in exchange for raising the debt limit for two years. Support from both parties will be needed to win congressional approval before a projected June 5th government default. I'm Julie Walker

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