Debt: Biden optimistic ahead of congressional vote this week

U.S. President Joe Biden on Monday expressed optimism that Congress will pass a deal this week to avoid a U.S. default. "I'm never going to say I'm confident about what Congress is going to do, but I feel things right," he told reporters before leaving the White House.

He said he spoke Monday to a number of elected officials, as well as Republican Senate Minority Leader Mitch McConnell and "many other people." "And it's looking good. We'll see when the vote starts," he said. The debt deal is due to be considered this week by Congress, with the Republican-dominated House of Representatives set to vote on it on Wednesday.

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Then it will be the turn of the Senate, where the Democrats have a narrow majority. After marathon negotiations, Joe Biden reached this weekend with the Republican leadership in the House an agreement on raising the US debt ceiling in exchange for budget cuts, to avoid a default that could occur, according to the Treasury, as early as June 5.