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The months-long fight over raising the debt ceiling is finally over. That means the threat of the US defaulting on its debts and a resulting economic crisis is off the table — at least for the next two years. So what happened? And how will it shape the economy, the political climate and future debt negotiations?

Bloomberg Congressional reporter Steven Dennis and White House reporter Jordan Fabian join guest host Nancy Cook to break down what the final agreement means and the impact it will have.

Read more: Debt-Limit Deal Clears Congress, Ending Threat of US Default

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This episode was produced by Supervising Producer Vicki Vergolina and Senior Producer Kathryn Fink.

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