JUST IN: Top White House and Republican negotiators on Saturday reached a deal in principle to raise the debt limit for two years, according to a published report.
Debt ceiing:
President Joe Biden and House Speaker Kevin McCarthy spoke on Saturday in an attempt to hammer out a deal.WASHINGTON — Top White House and Republican negotiators on Saturday reached a deal in principle to raise the debt limit for two years, avoiding a catastrophic default that loomed in early June, House Speaker Kevin McCarthy told reporters.that Saturday’s agreement in principle is “an important step forward.
. “That’s the responsibility of governing. And, this agreement is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost.”The White House has invited House Democrats for a briefing, MSNBC reported.It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone.
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