A proposed deal on the nation’s debt ceiling struck Saturday night between negotiators with the House GOP and the White House reverberated on Capitol Hill Sunday, with conservative Republicans calling it ‘insanity’ but both President Biden and Speaker Kevin McCarthy confident the plan will pass.

The “agreement in principle,” as it was described, comes just days before the nation was due to run out of money and fail to meet its debts and obligations, according to Treasury Secretary Janet Yellen, who last week updated the so-called X-date for default to June 5.

Negotiators worked at a feverish pace after lawmakers went home early for the holiday, announcing the deal, the text of which is still being drafted, after 9 p.m. Saturday.

“At the end of the day, people can look together to be able to pass this,” said McCarthy in comments Sunday.

“I think we’re in good shape,” Biden later said, projecting perhaps optimistic confidence the deal might make it to his desk on time.

Not everyone appears as certain as the agreement’s key negotiators, however, with leaders on both sides of the aisle seeing signs of discontent around the edges of their parties and little margin for error in the makeup of the House, where Republican’s hold slight nine-seat majority.

Rep. Dan. Bishop, following a call between McCarthy and other GOP members, took to Twitter to complain of so-called ‘republicans in name only’ who were congratulating the Speaker “for getting almost zippo in exchange for $4T debt ceiling hike.”

“Actually, it’s so bad they won’t give a figure for the debt ceiling hike … only that it’s suspended [until] Q1 2025. Our bill was a year less,” he wrote.

“This ‘deal’ is insanity. A $4T debt ceiling increase with virtually no cuts is not what we agreed to. Not gonna vote to bankrupt our country. The American people deserve better,” U.S. Rep. Ralph Norman, told his Twitter followers.

According to the chair of the Congressional Progressive Caucus, support for the so-called agreement may not materialize.

“The American people have to understand that we are at the brink of default. We don’t have a deal yet. We’re not sure how many Republican votes can be produced. And it is all because Republicans said that they wanted to cut the deficit. And let’s be clear that what they got from this was not that. They may have gotten other things,” U.S. Rep. Pramila Jayapal, told CNN.

“I’m not happy with some of the things I’m hearing about, but they are not cutting the deficit and they are not cutting spending,” she said.

The nation’s debt limit, currently set by Congress at $34.4 trillion, has never been breached without being raised before it might, though the ceiling was actually hit in January. Since then, the Treasury has been taking “extraordinary measures” to keep the bill collectors away.

Conservatives wanted any bill to raise the roof to come along with cost cuts and spending caps, while Democrats insisted they would not allow any borrowing limit bill to coincide with conditions better suited for budget negotiations.

Though details remain sparse, the deal which has emerged after weeks of seemingly stalled negotiations seems to include little of what Republicans were asking after, though perhaps more than Democrats wanted to give, in exchange for suspending the debt ceiling until well after the 2024 presidential election.

“It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and Congressional Democrats’ key priorities and legislative accomplishments,” Biden said in a statement, saying the accommodation is “good news for the American people because it prevents what could have been a catastrophic default.”

“The agreement represents a compromise, which means not everyone gets what they want. That’s the responsibility of governing,” he continued.

Despite the apparently impending doom should they not act in time, lawmakers will observe Monday’s federal holiday before returning to their jobs on Tuesday, with the as-yet-unwritten debt legislation potentially seeing a vote as soon as Wednesday.

Herald wire service contributed.