Here are the details…

Earlier today, Senate Majority Leader Chuck Schumer claimed that the debt crisis has been averted and they have reached an agreement with GOP to extend the government’s borrowing authority into December.

It is important to note that is only a temporary solution and something will still need to be done to avoid an economic catastrophe in the near future.

According to Newsmax, “We’ve reached agreement,” Schumer said. “Our hope is to get this done as soon as today.”

The decision came after Senate GOP leader Mitch McConnell agreed to only a short-term extension.

If McConnell and the Republicans had not agreed to this short-term extension, the United States could have easily fallen into a recession, which could still happen later down the line.

“Basically, I’m glad that Mitch McConnell finally saw the light,” said Bernie Sanders. “The Republicans have finally done the right thing and at least we now have another couple months in order to get a permanent solution.”