Mixed Reactions to Recent Debt Ceiling Agreement

The debt ceiling agreement reached by President Joe Biden and House Speaker Kevin McCarthy is receiving mixed reviews. Some conservative lawmakers are criticizing the deal as not doing enough to tackle the nation’s debt, while some Democrats dislike the spending freeze on non-defense programs and work requirements being extended to more food stamp recipients. However, major business groups are urging Congress to quickly pass the bill to avoid a default that could roil the global economy. The Committee for a Responsible Federal Budget sees the agreement as a step in the right direction towards deficit reduction. Final text of the agreement is expected Sunday.