Debt ceiling takeaways: McCarthy's balancing act, Biden's choice and the challenges ahead

by MARY CLARE JALONICK and SEUNG MIN KIM Associated Press

Mon, May 29th 2023, 12:35 PM UTC

The U.S. Capitol is seen in Washington, Sunday, May 21, 2023. President Joe Biden and Speaker of the House Kevin McCarthy came to an "agreement in principle" on the debt limit Saturday, May 27 that would avert a potentially disastrous U.S. default, but still has to pass both houses of Congress. (AP Photo/Patrick Semansky)

FILE - Speaker of the House Kevin McCarthy, R-Calif., talks to reporters outside his office following his discussions at the White House with President Joe Biden on the impasse over the government's debt ceiling, at the Capitol in Washington, Monday evening, May 22, 2023. President Joe Biden and McCarthy came to an "agreement in principle" on the debt limit Saturday, May 27 that would avert a potentially disastrous U.S. default, but still has to pass both houses of Congress. (AP Photo/J. Scott Applewhite, File){ }

President Joe Biden speaks in the Roosevelt Room of the White House, Sunday, May 28, 2023, in Washington. Biden and House Speaker Kevin McCarthy reached a final agreement Sunday on a deal to raise the nation's debt ceiling while trying to ensure enough Republican and Democratic votes to pass the measure in the coming week. (AP Photo/Manuel Balce Ceneta)

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The U.S. Capitol is seen in Washington, Sunday, May 21, 2023. President Joe Biden and Speaker of the House Kevin McCarthy came to an "agreement in principle" on the debt limit Saturday, May 27 that would avert a potentially disastrous U.S. default, but still has to pass both houses of Congress. (AP Photo/Patrick Semansky)

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