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Obama, Republicans Compromise On Debt Ceiling

President Barack Obama walks with Speaker of the House John Boehner as they depart the annual Friend's of Ireland luncheon on Capitol Hill in Washington, DC, March 17, 2015. With just seven days remaining until the debt ceiling deadline, Republican congressional leaders and President Obama have reached a tentative budget deal. (Jim Watson/AFP/Getty Images)
President Barack Obama walks with Speaker of the House John Boehner as they depart the annual Friend's of Ireland luncheon on Capitol Hill in Washington, DC, March 17, 2015. With just seven days remaining until the debt ceiling deadline, Republican congressional leaders and President Obama have reached a tentative budget deal. (Jim Watson/AFP/Getty Images)

With just seven days remaining until the debt ceiling deadline, Republican congressional leaders and President Barack Obama have reached a tentative budget deal. Their compromise would raise the spending limit by about $80 billion, keeping the government financed through September 2017.

Both the House and the Senate need to approve the deal, which would alleviate the risk of the U.S.’s first-ever default, for now. NPR’s Senior Washington Editor and Correspondent Ron Elving joins Here & Now’s Jeremy Hobson to discuss what each party has to sacrifice.

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