But the process of raising the debt ceiling isn’t a new one in the nation’s capital. In the last 82 years, Congress has raised the debt ceiling at least a hundred times.

In 2011, then-President Barack Obama and Republicans in Congress reached a stalemate, but they agreed on a deal to raise the ceiling just two days before the Treasury would have run out of money.

President Biden and House Speaker Kevin McCarthy reached an agreement to raise the debt ceiling. WSJ’s David Harrison breaks down what to know about the deal and its path through Congress. Photo ...