U.S. House Speaker says he has 'agreement in principle' with Biden to raise debt limit, avoid default

U.S. President Joe Biden and House Speaker Kevin McCarthy have reached an "agreement in principle" to limit federal spending and resolve the looming debt crisis ahead of a June 5 deadline, McCarthy says. A deal would avert a catastrophic U.S. default.

source https://www.cbc.ca/news/world/debt-limit-agreement-principle-1.6857247?cmp=rss