Debt ceiling deal: What's in, what's out of the bill to avert US default

The US House of Representatives is looking to avert a possible default on US debt by passing a measure to raise the nation’s borrowing limit. This bill will allow the US Treasury to continue paying its bills and avoid defaulting on its debt obligations. But what exactly is included in this deal, and what’s left out?

The proposed bill would raise the debt limit by $480 billion until December 2022, allowing the government to borrow enough money to pay for its expenses for the next few months. Additionally, it would also provide funding for disaster relief efforts, help with vaccine distribution, and invest in clean energy.

However, there are a few items that are not included in the bill, such as a proposed minimum wage increase or changes to the Affordable Care Act. The bill is likely to face some opposition in the Senate, where there is little support for certain measures.

The debt ceiling is an important topic to keep an eye on because it has an effect on the global economy. If the US defaults on its debt obligations, it could lead to widespread financial chaos and impact other countries as well. The proposed bill is a step in the right direction to avoid default and keep the economy on track. But with the looming threat of a government shutdown, there is still much work to be done to keep the country functioning smoothly.