Podcasts Other The Mike Hosking Breakfast Richard Arnold: US Correspondent on the plan to raise the US's debt ceiling

Richard Arnold: US Correspondent on the plan to raise the US's debt ceiling

Published: May 28, 2023, 9:04 p.m.

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The Speaker of the Republican controlled US House of Representatives believes that changes to a deal to lift the debt ceiling will be transformational.

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Kevin McCarthy and US President Joe Biden have agreed in principle on a plan to raise debt in order to pay the country\'s bills.

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US correspondent Richard Arnold says that in reality the changes are small.

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He says there\'s a bit more Defense, less for the Tax Office, and reductions in regulation and age changes for food stamps.

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The US Congress now has to approve the deal.

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