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Biden, McCarthy Strike Debt-Ceiling Deal

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“President Biden and House Speaker Kevin McCarthy (R-CA) have reached a tentative agreement for raising the nation’s borrowing limit for two years while placing new limits on spending over that period, according to a person familiar with negotiations, moving to end a standoff that has threatened a historic default on U.S. government debt and put the global economy on edge,” the Wall Street Journal reports.

“The agreement was announced after Biden and McCarthy spoke by phone on Saturday night for roughly 90 minutes and follows weeks of negotiations between the White House and GOP leaders in the House.”

Matthew Yglesias: “If you ignore everything about the circumstances of how this came together, it’s really not a bad deal.”

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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