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BBCNEWS Asia July 6, 2024



this is a deal and it s good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. the two parties have untiljune 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that s a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re election in the 2024 presidential race, he won t have to face this political drama, instability, brinkmanship, right in the run up to that presidential election, so he ll be pleased with that. but the republicans are trying to say they ve chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending. he s talked about how there will be tougher work requirements for some people in receipt of ....

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BBCNEWS Asia July 6, 2024



gives no one everything they want, but that s the responsibility of governing. this is a deal and it s good news, i believe, for the american people. the agreement prevents the worst possible crisis, a default for the first time in our nation s history. the two parties have untiljune the 5th to reach an agreement to prevent the us government running out of money. our correspondent in washington jessica parker has more. this deal is set to raise the debt ceiling for two years. that s a big win for the white house. why? well, it means that, forjoe biden, who of course is seeking re election in the 2024 presidential race, he won t have to face this political drama, instability, brinkmanship, right in the run up to that presidential election, so he ll be pleased with that. but the republicans are trying to say they ve chalked up wins in terms of policy, so they are talking about, for example, kevin mccarthy, the house speaker, that there will be curbs on spending. he s talk ....

Kevin Mccarthy , Run Off Election , Joe Biden , Asia Business Report , Debt Ceiling , Progressive Democrats , Jessica Parker , Forjoe Biden , Re Election , White House , House Speaker , Run Up , Money Part , Work Requirements , Food Stamps , Food Assistance , Internal Revenue Service , Tax Evasion , Hard Sell , Democratic Party , Treasury Isjune 5th , Development Meanforasia , Carson Yeung , China S , 2 Trillion , Turkish Lira ,

BBCNEWS Asia July 6, 2024



with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they won t win over republicans ....

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BBCNEWS Asia July 6, 2024



the mood in washington. with just one week left until treasury officials say they will run out of cash to pay its bills, the mood music from washington was upbeat. but a deal can be done to avoid default. i want to be clear. the negotiations we are having with speaker mccarthy are about the outlines of what the budget will look like, not about defaults. it is about competing visions for america. nothing will be resolved until we resolve them all. we know where our differences lie. we worked well past midnight last night, we are back at it today, trying to get to the conclusion so we can solve this problem. failure to reach an agreement could have global implications. fitch, one of the major credit rating agencies warned of a potential downgrade to the us credit rating if the deal isn t done. the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don t cut enough, they wo ....

Memorial Day Weekend , Debt Ceiling Dealine , North America , Welcome To Asia Business Report , All Of You , Mariko Oi , Debt Ceiling , Michelle Fleury , Bank Holiday , Summer Season , New York , 1st Ofjune , Mood Music , Credit Rating Agencies , Us Treasury Department , Sticking Point , Credit Rating , Deal Isn T , Fleury Reporting , New York Times , Debt Limit , House Of Representatives , Ford Motor , Liberal Democrats , Auto Space , Driving Range ,

BBCNEWS Asia July 6, 2024

though the debt ceiling deadline on the 1st ofjune is just one week away. from new york my colleague sums up the mood in washington. york my colleague sums up the mood in washington. we re ust one week left i mood in washington. we re ust one week left untili mood in washington. we re ust one week left until treasury h one week left until treasury officials say the us will run out of cash to pay its bills for the mood music from washington was upbeat that a deal can be done to avoid default. i deal can be done to avoid default. ., ., , . ., default. i want to be clear, in the negotiation default. i want to be clear, in the negotiation happening i default. i want to be clear, in. the negotiation happening was speaker the negotiation happening was speaker mccarthy is about the outlines speaker mccarthy is about the outlines of what the budget will look like. not about default. it s about competing business for america. gr default. it s about competing business for amer ....

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