White House and Congressional negotiators have announced the outlines of a bipartisan debt ceiling compromise meant to stave off a US default and potential economic crisis. The compromise would lift the $31.4 trillion US debt cap for two years while cutting discretionary spending from earlier White House proposals. Some give-and-take is included around energy permitting and approvals. The passage of the Fiscal Responsibility Act is generally seen as needed before Jun. 5, the so-called “X-date” by which the US Treasury could begin to struggle to cover some financial obligations. But factions on both sides of the aisle ... (full story)