The House and Senate Have Approved the Debt Ceiling Deal

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There's still a lot more hand-wringing to go this week, particularly on Capitol Hill. This deal needs to has been turned into a bill and now it needs to be approved by both the House and Senate in order to go into effect. There are some changes as well to some of the social safety net programs in the U.S., particularly when it comes to eligibility for nutritional assistance or is commonly referred to as food stamps.

Democrats and Republicans are confident they can pass a deal to avert a US debt default, the lira slides after Turkish president Recep Tayyip Erdoğan is re-elected, and ageing populations are causing government credit ratings to take a hit.

Mentioned in this podcast:

Debt ceiling fight shifts to Congress as lawmakers prepare for first votes

Turkey’s lira weakens as economists warn of economic challenge

Ageing populations ‘already hitting’ governments’ credit ratings

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Katie McMurran, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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