President Biden said Sunday his debt ceiling deal with House Speaker Kevin McCarthy (R-Calif.) "prevents the worst possible crisis: a default for the first time in our nation's history."
The big picture: The House GOP leadership said as McCarthy released the bill's text that Republicans had "secured a historic series of wins worthy of the American people." But both Biden and McCarthy still have to overcome skeptical Democrats and Republicans in a divided Congress to pass the bill ahead of the U.S. government's projected June 5 default.
