Biden, McCarthy Forge Debt Deal in Bid to Avert US Default (1)

White House and Republican negotiators reached a tentative deal late Saturday to raise the US debt ceiling and avert a default that threatened to send tremors through the global economy.

President Joe Biden and House Speaker Kevin McCarthy, who sealed the agreement during a 90-minute phone call, must now shepherd the framework to final legislative passage over the objections of hardliners in both parties.

McCarthy said he will talk with Biden again on Sunday and line the bill up for a vote on Wednesday.

“We still have a lot of work to do, but I believe this is an ...