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Biden government strikes deal with Republicans to raise US debt ceiling | ABC News

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US House Speaker Kevin McCarthy says he has reached an "agreement in principle" with President Joe Biden as they race to strike a deal to limit federal spending and resolve the looming debt crisis ahead of a June 5 deadline, according to the House speaker. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2023-05-28/joe-biden-and-kevin-mccarthy-debt-ceiling-deal/102403056

A deal to raise the federal government's $US31.4 trillion ($48 trillion) debt ceiling would end a months-long stalemate, but would also risk angering both Democratic and Republican sides with the concessions made to reach it.

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