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The Guardian - US
The Guardian - US
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Robert Reich

The debt ceiling deal isn’t perfect but it’s the only one – and it must pass

United States Joe Biden Kevin McCarthy
The national debt clock in midtown Manhattan on Saturday.
The national debt clock in midtown Manhattan on Saturday. Photograph: Anadolu Agency/Getty Images

House Speaker Kevin McCarthy and Joe Biden reached a deal last night to raise the debt ceiling and prevent the United States from defaulting on its obligations.

Is it a good deal? Who will bear the burden? Should it have ever gotten to this point? Did Biden blow it?

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