CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade

May 31, 2023
House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The House is set to vote on a debt deal on Wednesday.

Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.

(Image credit: Kevin Dietsch/Getty Images)



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