Leaders from both the U.S. House and U.S. Senate have agreed on a debt ceiling deal that will prevent the country from default.

Under the promise of $1 trillion in spending cuts, the ceiling will be raised by $2.4 trillion from its current $14.3 trillion cap. House Speaker John Boehner said it wasn't "the greatest deal in the world" while House Minority Leader Nancy Pelosi would only say she and her caucus would review the terms.