The days ahead will determine whether Washington is again able to narrowly avoid a default on U.S. debt, as it has done many times before, or whether the global economy enters a potential crisis.
McCarthy and his negotiators tried to portray the deal as delivering for Republicans though it fell well short of the sweeping spending cuts they sought. Top White House officials were phoning Democratic lawmakers to try and shore up support. Biden said the agreement “represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing.”Lawmakers are not expected to return to work from the Memorial Day weekend before Tuesday, at the earliest, and McCarthy has promised lawmakers he will abide by the rule to post any bill for 72 hours before voting.of food stamps that House Democrats had called a nonstarter.
The two sides had also reached for an ambitious overhaul of federal permitting to ease development of energy projects. Instead, the agreement would put in place changes in the landmark
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