Meghan Lynch and Debbie Monterrey discuss the recent agreement reached by the US House and Senate to raise the nation's debt limit, thus avoiding a potential default on the country's debts. They interview Stephen Smith, a Professor of Political Science at Washington University, to gain insights into the leadership of House Speaker McCarthy and President Biden during this process. The discussion explores the compromises made and the claimed victories from both sides. The segment also highlights the temporary nature of the agreement, the suspension of the debt limit until January 2025, and the need for further negotiations on budget issues.