US President Biden agrees in principle on new debt limit
Morning Report
English - May 28, 2023 19:42 - 6 minutes - 6.13 MB - ★★★★ - 11 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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President Biden and the Republican House Speaker Kevin McCarthy have reached an agreement in principle on a new government debt limit, after weeks of bitter negotiations.
Joe Biden said the deal was a compromise but would stop a "catastrophic government default".
Democrats and Republicans have until June the fifth to reach agreement before the US government runs out of money.
Kevin McCarthy said there would be historic reductions in spending in the deal, and no new taxes or government programmes.
Our correspondent Caroline Malone spoke to Ingrid Hipkiss.