House speaker Kevin McCarthy and his Republican negotiators have reached a deal with Joe Biden and Democratic negotiators over a deal that would raise the debt ceiling to carry it over until 2025, i.e. after the next election. There still remains the task of having the deal passed by both houses of congress before the X-date of Monday June 5. It is scheduled for the first vote in the house on Wednesday, May 31.
I am no federal budget expert but on the surface it seems like a deal that could just as easily have been arrived at without all this brinkmanship. This article outlines what is in it.
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