Biden's Debt Ceiling Success: Oval Office Address and Boost to Economy.

President Biden is set to deliver a rare Oval Office address on Friday evening after the Bipartisan Budget Agreement, which suspends the debt ceiling for two years and cuts back on spending, narrowly averted the economic calamity of a first-ever default on the nation’s debt. The president is expected to sign the bill before his remarks at 7 p.m. on Friday, just three days before the Treasury secretary said the government’s ability to pay its debt would expire. Biden's decision to use the same venue on Friday underscores how close he believes the two sides had veered toward economic calamity.