White House, House Republicans reach debt ceiling deal

The Capitol is seen in Washington, May 3, 2023. (PHOTO / AP)

WASHINGTON – US White House and House Republicans on Saturday reached an "agreement in principle" to raise the debt ceiling to avert a possible default amid deep partisan divide and global concerns.

Since 1960, US Congress has acted 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit, according to the US Department of the Treasury.