Joe Biden, McCarthy reach tentative deal raising US debt limit for 2 years

U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise America's debt ceiling. [AP Photo]

U.S. President Joe Biden and top congressional Republican Kevin McCarthy have reached a tentative deal to raise the federal government's $31.4 trillion debt ceiling, ending a monthslong stalemate.

However, the deal was described in terms that indicated it might not be absolute, and without any celebration, an indication it may have of a difficult path through Congress before the United States runs out of money to pay its debts in early June.