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CBC News

'Catastrophic' U.S default off the table after deal

CBC News ·
CBC News
CBC News

Fears of a U.S. government shutdown are easing after President Joe Biden and House Speaker Kevin McCarthy struck an ‘agreement in principle’ to raise the country’s legal debt ceiling. Both sides made compromises that may prove difficult to sell to their respective parties before the projected June 5 deadline to sign off on the deal.