Republicans in the White House and the House of Representatives have agreed in principle to raise the US national debt ceiling and cut budget spending to avoid default in the US Congress. The portal writes about this Punchbowl Newsrefer to their sources.
According to them, the House of Republicans “reached an agreement in principle with the White House on a debt limit agreement.”
May 25 US President Joe Biden declarationThe American administration and the United States Congress agree that default in the country is unacceptable, and progress has been made in negotiations to raise the national debt ceiling.
Before The Washington Post listed Significant events that increased the US national debt to $31 trillion. These are the consequences of the coronavirus pandemic, as well as the wars in Iraq and Afghanistan in particular.