Biden, McCarthy push approval of debt deal

PRESIDENT Joe Biden and Republican leader McCarthy said Sunday that a final bipartisan deal to raise the US debt ceiling — and avoid a cataclysmic default — now heads to Congress, which will need to pass the agreement before the government starts running out of money.

The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5 "X-date" when the Treasury estimates there might not be enough cash to pay bills and debts.