The White House and US House Republicans reached an agreement in principle to raise the debt ceiling for two years and limit spending. This was announced by House Speaker Kevin McCarthy: a deal that averted the possibility of a historic default for the nation of stars and stripes. The deal was reached over the phone by President Joe Biden and McCarthy and will have to be put to a vote on Wednesday to pass before June 5, a crucial date, according to Treasury Secretary Janet Yellen, after which the United States not being able to pay the bills.
“After weeks of negotiations, we reached an agreement in principle. We still have a lot of work to do, but I think this is a deal worthy of the American people,” McCarthy said during a brief address to reporters. “The deal protects my priorities and my legislative outcomes and those of the Democrats in Congress,” Biden said in a statement, which continues as follows: “The deal represents a compromise, which means that not everyone gets what they want. That is the responsibility of governing.”
Source: IL Tempo

John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.