earlier today, president biden told reporters, he is confident a deal will reach his desk. and no more sticking points to iron out. msnbc news has also learned part of the deals raising the debt limit for two years, avoiding another debt showdown before the 2024 election. the deal also clause back some unspent pandemic funding, we ll talk about what that means. and shaves off some irs funding. it also expands work requirements for certain adults on food stamps. speaker mccarthy also spoke to senate republicans this afternoon about his deal at the white house, two sources tell msnbc, republican retold the bill 150 pages. and will include 15 pages of spending cuts. this morning, he told reporters, he expects a vote on the bill as soon as this wednesday. we did a conference call with a conference over 95% were overwhelmingly excited but what they see. they re getting the text today, the process, look, in every single negotiation, when it comes to debt ceiling and others, you
but still get from democrats. i think that there s more than enough democratic votes who do not want to see a default to compensate for losing the house freedom caucus in the final bill passage. the question is, what does that look like? how many moderates do potentially lose? because they think that the deal could be better. how many progressives do you lose. i think there will be a majority, it will be messy. because this bill, bipartisan in the sense that, both members of both parties are gonna vote for. not in the sense that both sides are happy about it. likewise, as a compromise. not because it s a win-win, because everybody is better off, but because we re averting disaster. and only some people will be worse off, rather than a lot of people, which was the case under the original gop bill. just as a reminder to our audience, we re waiting to hear from president biden in the roosevelt room, talking specifically about this that deal. we re gonna talk until he takes that podium
needs to have been dealt with slow, methodical process that makes its way to the courts. that s why, but i actually think the president s talking about doing over the next four year or two, on that path, seems pretty reasonable to me. let s give it a try. but that is a very sharp distinction from the president, if the deal goes awry, over the next couple of days. just saying, i m going to rely on the 14th amendment to issue treasury securities right now. ignoring the debt ceiling. and put those securities out to a financial markets, and cross his fingers that there are people who want to buy those securities even knowing that they might be deemed illegal by the courts. that is a recipe for financial market chaos. i agree with you. big distinction between those two things, wendy, thank you so much for staying with us. rolling with us to this breaking news. alencia, that brings me to you. the person who is the
i think it s a really important step forward. excuse me. it takes the threat of catastrophic default off the table. protects our hard earned and historic economic recovery. and the agreement also represents a compromise, as no one got everyone everything they want. that s the responsibility of governing. this is a deal, it s good news, i believe, you ll see, for the american people. the agreement prevents the worst possible crisis. a default. for the first time in our nation s history. an economic recession, retirement accounts devastated, millions of jobs lost, also protects key priorities, and accomplishments and values. that congressional democrats and i fought long for, long and hard for. investing in americas agenda, it s creating good jobs and communities throughout the country. protects social security, medicare, veterans, so much more. the speaker and i made clear from the start, the only way forward was a bipartisan agreement.
if you want to try and make it look like i made some compromise on the debt ceiling, i didn t. amid a compromise on the budget. that s what they wanted, to make a caucus on the budget. that s what you ve done. even though you ve got as far as they want. sure, yeah. well, can you think of an alternative? mister president, what do you say to members of your own tall party? who said you made too many concessions of this deal? they ll find i didn t. mister president, your allies an advertised to america, would you willing to say about what you think this process said to those adversaries and allies you have until now, what does the process say? well, it s as we ve been through this more than once. it s just the nature of the way we handle the deficit and handle whether we re going to, each year, going to pay our debts. it s happened more than once. it will probably happen again. it s not gonna happen at least for another two years here. i don t think beyond that it won t either