Biden, McCarthy push approval of debt deal

By Agence France-Presse

May 30, 2023 12:29 am

PRESIDENT Joe Biden and Republican leader McCarthy said Sunday that a final bipartisan deal to raise the US debt ceiling — and avoid a cataclysmic default — now heads to Congress, which will need to pass the agreement before the government starts running out of money.

The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5 'X-date' when the Treasury estimates there might not be enough cash to pay bills and debts.

Republican leader McCarthy and President Joe Biden. AFP Photo

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