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Friday, April 26, 2024

Monday morning news: May 29, 2023 | WORLD - WORLD News Group

News of the day, including a tentative debt ceiling deal, Target hit hard by boycotts, and Turkish president Erdogan claims victory in runoff election

Turkish President Recep Tayyip Erdogan, left, and his wife, Emine, at the presidential palace, in Ankara, Turkey, following Sunday's election win

Debt limit » President Biden and House Speaker Kevin McCarthy are putting the finishing touches on a deal struck over the weekend to raise the nation’s debt ceiling.

KEVIN MCCARTHY: It doesn’t get everything everybody wanted but in divided government that’s where we end up. I think it’s a very positive bill.

Biden told reporters at the White House that he’s confident the plan will make it to his desk and that no sticking points remained.

The compromise reduces overspending. But Washington will continue spending more than it takes in, adding to the national debt. That has sparked criticism of the deal from many conservative lawmakers.

But Florida GOP Congressman Greg Steube said Sunday:

GREG STEUBE: There’s a lot of good stuff in there. It limits topline federal spending by 1% on annual growth for the next six years. It pulls the COVID funds back that haven’t been used. It also puts a pay-go requirement in for the White House.

McCarthy said the House will vote Wendesday to raise the debt ceiling.

Ukraine » Russia hit Ukraine’s capital city with a massive drone attack on Sunday as Kyiv prepared to mark the anniversary of its founding.

VOLODYMYR ZELENSKYY: [SPEAKING UKRAINIAN]

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