US debt, an agreement in principle found in extremis
After days of meetings, threats and bad feelings, an agreement in principle between President Biden and House Speaker Kevin McCarthy was reached to prevent the economic collapse of the United States. The agreement, described as “good news for Americans and a compromise” by Biden, arrived at the last minute thanks also to a postponement of the deadline to increase the government’s loan limit. “After weeks of negotiations, we’ve come to an agreement in principle,” McCarthy said speaking at the US Capitol. “We still have a lot of work to do, but I believe this is an agreement in principle worthy of the American people.” Already next Wednesday the agreement will be put to the vote in the Chamber. The package reached will be digested with difficulty by both Republicans and Democrats but it is very likely, given the seriousness of the risk, that there will be bipartisan support to approve it.
US debt, the first terms of the agreement
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