AP source: Biden, McCarthy reach final deal to prevent default, now must sell to Congress
"The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.”
McCarthy, too, was confident in remarks at the Capitol:"At the end of the day, people can look together to be able to pass this.” Anxious retirees and others were already making contingency plans for missed checks, with the next Social Security payments due soon as the world watches American leadership at stake.
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AP source: Biden, McCarthy reach final deal to prevent default, now must sell to CongressThe 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 that they must press Congress to pass. The completion of the agreement by the leaderswas confirmed by a person familiar with the situation and granted anonymity to discuss it. The compromise announced late Saturday risks angering some Democratic and Republican lawmakers as they begin to unpack the concessions that include spending cuts. McCarthy and Biden spoke Sunday evening as negotiators work to draft the legislative text.
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