With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy on Sunday were finalizing a deal to raise the nation’s debt ceiling while trying to wrangle enough Republican and Democratic votes to pass the measure in the coming week.

The compromise announced late Saturday includes spending cuts but risks angering some lawmakers as they take a closer look at the concessions. McCarthy and Biden were expected to put the finishing touches on the agreement in a midafternoon call once the final legislative text was drafted.

The compromise announced late Saturday includes spending cuts but risks angering some lawmakers as they take a closer look at the concessions. McCarthy and Biden were expected to put the finishing touches on the agreement in a midafternoon call once the final legislative text was drafted.

Anxious retirees and others were already making contingency plans for missed checks, with the next Social Security payments due soon. Winning enough support to pass the deal, even with buy-in from the McCarthy, R-Calif., and the White House, remained a work in progress.

McCarthy and his negotiators tried to portray the deal as delivering for Republicans though it fell well short of the sweeping spending cuts they sought. Top White House officials were phoning Democratic lawmakers to try and shore up support.

Senior administration officials, including budget director Shalanda Young, National Economic Council Deputy Director Aviva Aron-Dine and John Podesta, the White House’s senior adviser on climate, planned a virtual briefing with House Democrats in the afternoon, according to a House Democratic aide. One of Biden’s chief negotiators, presidential counselor Steve Ricchetti, was making one-on-one calls to Democrats as the administration ramped up efforts to sell the deal.

McCarthy told reporters at the Capitol on Sunday that the agreement “doesn’t get everything everybody wanted,” but that was to be expected in a divided government. A White House statement issued after announcement of the agreement in principle, reached after Biden and McCarthy spoke by phone Saturday evening, said it “prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost.”

With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation’s debt ceiling and worked to ensure enough support in Congress to pass the measure in the coming week.

The Democratic president and Republican speaker spoke late in the day as negotiators rushed to draft and post the bill text for review, with compromises that neither the hard-right or left flank is likely to support. Instead, the leaders are working to gather backing from the political middle as Congress hurries toward votes before a June 5 deadline to avert a damaging federal default.

“Good news,” Biden declared Sunday evening at the White House.

“The agreement prevents the worst possible crisis, a default, for the first time in our nation’s history,” he said. “Takes the threat of a catastrophic default off the table.”

The president urged both parties in Congress to come together for swift passage. “The speaker and I made clear from the start that the only way forward was a bipartisan agreement,” he said.

The final product includes spending cuts but risks angering some lawmakers as they take a closer look at the concessions. Biden told reporters at the White House upon his return from Delaware that he was confident the plan will make it to his desk.

McCarthy, too, was confident in remarks at the Capitol: “At the end of the day, people can look together to be able to pass this.”

The days ahead will determine whether Washington is again able to narrowly avoid a default on U.S. debt, as it has done many times before, or whether the global economy enters a potential crisis.

In the United States, a default could cause financial markets to freeze up and spark an international financial crisis. Analysts say millions of jobs would vanish, borrowing and unemployment rates would jump, and a stock-market plunge could erase trillions of dollars in household wealth. It would all but shatter the $24 trillion market for Treasury debt.

Anxious retirees and others were already making contingency plans for missed checks, with the next Social Security payments due soon as the world watches American leadership at stake.

McCarthy and his negotiators portrayed the deal as delivering for Republicans though it fell well short of the sweeping spending cuts they sought. Top White House officials were briefing Democratic lawmakers and phoning some directly to try to shore up support.

One surprise was a provision important to influential Sen. Joe Manchin, D-W.Va., giving congressional backing for the controversial Mountain Valley Pipeline, a natural gas project, that is certain to raise questions.

A Swiss court on Wednesday acquitted noted Islamic scholar Tariq Ramadan on charges of rape and “sexual constraint,” citing lack of material evidence more than a decade after the alleged actions, contradictory witness statements and what resembled love messages to the accused.

The court said it would pay Ramadan’s lawyers’ fees. It was a first victory for the former Oxford scholar with a worldwide reputation who had a brutal fall from grace with similar accusations still pending in France.

Ramadan faces potential trial in France over allegations by several other women that emerged more than five years ago.

Ramadan, a Swiss citizen, was jailed in February 2018 in France and handed preliminary rape charges over two alleged assaults in France, one in 2009 and another in 2012. A third woman filed a rape complaint against him in March. He was released on bail nine months later.

The outspoken scholar has consistently denied any wrongdoing and filed a lawsuit saying the allegations were false.

In the Swiss case, the court noted that it didn’t pass judgment on Ramadan’s sexual practices or his morality. A statement said the plaintiff’s accusations weren’t corroborated by any material elements, including traces of sperm or blood. It also considered the “the numerous internet exchanges” between the Swiss plaintiff and several people implicated in the French case were “of a nature to influence” what she and witnesses told the court.

The court said that messages the plaintiff exchanged with Ramadan immediately after the acts in question and for weeks later appear more like “messages of love and, above all, make no mention” of her allegations during a night at a hotel.