Today on NOW and NEXT:US President Joe Biden and House Speaker Kevin McCarthy have reached a compromise deal to raise the country's debt ceiling. It still needs Congressional approval and a number of Republican members of the House say they'll vote to kill the deal. If that happens, the US would default on its loans.Finance expert Preet Banerjee, founder of Money Gaps says the Debt Ceiling is an arcane mechanism for Congress to limit its spending but it's become a political cudgel that threatens economies around the world.
