Crisis averted: President Biden signs bipartisan debt ceiling bill preventing unprecedented default
With just two days to spare, President Joe Biden signed legislation on Jnue 3 that lifts the nation’s debt ceiling, averting an unprecedented default on the federal government’s debt. President Biden celebrated a “crisis averted” in his first speech to the nation from the Oval Office on June 2. Treasury Department had warned the U.S. would not be able to meet its obligations. The budget agreement eliminated the potential for an unprecedented government default that would have been catastrophic for the domestic and global economies. “Passing this budget agreement was critical. The stakes could not have been higher,” Biden...
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