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News Articles: deficits

House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The House is set to vote on a debt deal on Wednesday.

CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade

Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.

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By:
  • Scott Horsley