Biden, GOP reach debt-ceiling deal, now Congress must approve it to prevent calamitous default

The compromise announced late Saturday risks angering both Democratic and Republican lawmakers as they begin to unpack the concessions. Negotiators agreed to some Republican demands for increased work requirements for recipients of food stamps that House Democrats had called a nonstarter. But bargainers stopped short of greater spending cuts overall that Republicans wanted.

May 29, 2023 - 00:30
Biden, GOP reach debt-ceiling deal, now Congress must approve it to prevent calamitous default
The compromise announced late Saturday risks angering both Democratic and Republican lawmakers as they begin to unpack the concessions. Negotiators agreed to some Republican demands for increased work requirements for recipients of food stamps that House Democrats had called a nonstarter. But bargainers stopped short of greater spending cuts overall that Republicans wanted.