Tentative debt ceiling deal reached to avert default.

President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle to raise the US debt ceiling for two years and cap spending. The deal must be passed before June 5, when the Treasury Department will no longer have enough funds to pay all of the nation's obligations in full and on time. The agreement includes provisions that lawmakers on each side of the aisle don't support, and both leaders now face the task of selling the deal to their allies in both chambers of Congress.