McCarthy Won the Debt-Limit Deal. Biden Did, Too.
Each of the leaders will get a political boost from the compromise, but especially the House speaker, whose reputation was less secure.
Reputation enhancer.
Photographer: Saul Loeb/AFP/Getty Images
The compromise that Joe Biden and Kevin McCarthy struck this weekend to raise the debt ceiling should strengthen the political standing of both leaders, but especially that of McCarthy, whose aptitude and authority as House speaker have been very much in question since he was elected to the job early this year.
The most important outcome from the agreement — assuming Congress manages to pass the legislation — is that a devastating default will be avoided. There also will be policy changes, including a cap on government spending and new work requirements for some recipients of government assistance, whose effects will be significant.