US President Joe Biden and House Speaker Kevin McCarthy have reached a tentative deal to raise the federal government’s $3.4 trillion debt ceiling days ahead of a deadline to avert a potentially catastrophic default.However, McCarthy described the deal on Saturday in terms that suggested it may not be absolute, and without any celebration – an indication of the bitter tenor of the negotiations, and the difficult path it has to pass through Congress before the United States runs out of money to pay its debts on June 5.The Democratic president and the Republican speaker reached the agreement in principle after they held a 90-minute telephone call.
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